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| Exchange Disseminated Time | Morarjee Textiles Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 22, 2010, inter alia, approved the following:
- Pursuant to the provisions of Section 80, 81 (1A) and other applicable provisions, if any, of the Companies Act, 1956, issue Cumulative Redeemable Non Convertible Preference Shares of Rs. 100/- each to an identified investor aggregating to Rs. 15 crores subject to the approval of the shareholders at the ensuing Annual General Meeting.
- Pursuant to the provisions of Sections 78, 100 and 103 and other applicable provisions, if any, of the Companies Act, 1956 read with Article 46 of the Articles of Association of the Company, utilization of the balance standing to the credit of the Securities Premium Account as on March 31, 2010 against the debit balance standing in the Profit and Loss Account under a Capital Reduction Scheme subject to the approval of shareholders at the ensuing Annual General Meeting and further subject to the confirmation of the Hon'ble High Court of Judicature at Bombay. |
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