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| Exchange Disseminated Time | Visagar Polytex Ltd has informed BSE that the Board of Directors of the Company at its meeting held on January 21, 2010, has taken the following decisions:
1. The Board decided to cancel the proposed rights Issue of 37,20,000 Shares aggregating to Rs. 5,58,000,000, which was sanctioned by the shareholders in their meeting held on November 25, 2008, which was earlier deferred by the Board. The said decision has been arrived at considering alternative financing plan discussed by the Board.
2. The Board noted the omission of shareholding in the explanatory statement to the Resolution passed by the shareholders on January 08, 2010 for the preferential allotment approved by the members. The Board has decided to call the Extra-ordinary General Meeting of the Company to ratify / amend the above omission. |
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