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| Exchange Disseminated Time | Jayaswal Neco Industries Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on August 08, 2009, inter alia, have passed Resolution approving
1. Increase in Authorized share capital from Rs 175 Crores to Rs 300 Crores by creation of new Equity Shares of the nominal value of Rs 125 Crores.
2. Consequential alterations to Clause V of Memorandum of Association.
3. Consequential alterations to Clause 3 of Articles of Association.
Pursuant to above the enhanced Share Capital of the Company is Rs 300 Crores divided into Rs 240 Crores as Equity and Rs 60 Crores as Preference Share Capital.
At the above said meeting the Members of the Company have also passed resolution under section 81(1A) of the Companies Act, 1956 authorizing Board of Directors to issue to the Members of Inertia Iron and Steel Industries Pvt Ltd, Corporate Ispat Alloys Ltd and Abhijeet Infrastructure Ltd 12,37,76,856 Equity Shares of Rs 10/- each at par as a consideration for transfer of Assets and Liabilities pursuant to the Schemes of Arrangement, which are pending before Hon'ble High Court for sanction. |
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