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| Exchange Disseminated Time 14/11/2016 15:24:31 | Pondy Oxides & Chemicals Ltd has informed BSE that the Company received a requisition letter from a group of person in the promoter category of the Company to re-classify/de-recognize them from the category of ‘promoter/promoter group’ to ‘public category’ as their shareholding is minimum and they do not either individually or jointly or severally take part in the Management or policies of the company and they do not have ability to appoint any of the Directors to the Board of the Company.
The Board of Directors in their meeting held on November 14, 2016 considered the application for their re-classification/ de-recognition and have approved the same and recommended to submit an application to SEBI/ Stock exchange to classify them under public category pursuant to provisions of Regulation 31A (2) read along with Regulation 31A (7) of SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015. |
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