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| Exchange Disseminated Time | | Onward Technologies Ltd has informed BSE that the Board of Directors of the Company at its meeting held on December 01, 2007 has approved a scheme of arrangement / reconstruction of the Balance sheet of Onward eServices Ltd, the wholly owned subsidiary of the company, containing write-offs and reduction of capital and a scheme of arrangement/reconstruction for its impact on the balance sheet of the Company u/s. 391 to 394/ Section 100 of the Companies Act, 1956 subject to the requisite permissions. |
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