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| Exchange Disseminated Time | Maral Overseas Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 29, 2012, have pursuant to approval dated October 25, 2012 received from Ministry of Corporate Affairs under section 205A(3) of the Companies Act, 1956, recommended the payment of dividend @ 8% i.e. Rs. 8/- per share for the financial year 2011-12 on 18,85,400 Cumulative Redeemable Preference Shares of Rs. 100/- each held by the Banks aggregating to Rs. 175.30 lacs including Dividend Distribution Tax. Accordingly, the Board of Directors have modified the accounts earlier adopted to the extent of withdrawal from the General Reserves towards the aforesaid Dividend, Dividend Distribution Tax and setting-off the losses incurred during the financial year 2011-12 i.e. Rs. 195.31 lacs aggregating to Rs. 370.61 lacs.
The revised annual accounts for the year ended March 31, 2012 as a result of the above change, have been adopted by the Board of Directors at their meeting held on October 29, 2012. |
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