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| Exchange Disseminated Time | JHS Svendgaard Laboratories Ltd has informed BSE that the Board of Directors of the Company at its Meeting held on March 28, 2013, have transacted the following item of business:
1. The Board considered and approved for utilizing an amount not exceeding Rs. 52 Crores out of the balance standing in the Securities Premium Account of the Company for adjustment / set off of the outstanding balance of Debtors which are considered bad as at February 28, 2013.
2. Further the Company clarify that the above activity shall be in the form of Book Entry only and neither does it involve any cash outflow or inflow, nor does it involve any issue of shares or cancellation of existing equity shares.
3. The Board also approved the Notice of the Extraordinary General Meeting of the Company which is to be scheduled on April 25, 2013 at 9.00 AM at Trilokpur Road, Kheri (Kala-Amb), Tehsil-Nahan, District Sirmour, Himachal Pradesh - 173030.
4. The Board also resolved to file the Application and Petition along with the Special Resolution passed at the EOGM with the Hon’ble Himachal Pradesh High Court for seeking its approval for adjusting balance of Debtors which are considered bad as at February 28, 2013 against the Securities Premium balance standing in the Securities Premium Account of the Company for an amount not exceeding Rs. 52 Crores. |
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