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Exchange Received Time  28/09/2018 21:24:47 Exchange Disseminated Time 28/09/2018 21:24:55 Time Taken 00:00:08 | 1. With reference to the stock exchange disclosure made by the Company dated September 24, 2018, regarding initiation of CIRP process by Canara Bank. In this context, it may be noted that the Company has initiated appropriate legal action against Canara Bank and other lenders before the relevant judicial authorities. The Company has also obtained a status quo against the CIRP proceedings from the appropriate judicial forum and as a result the CIRP process has been already stayed pending the outcome of the above proceedings. 2. The Thirtieth (30th) Annual General Meeting of the Company was convened and concluded on September 27, 2018. At the said Annual General Meeting, all resolutions were passed with the requisite majority. It may be noted that Dr. Mahesh Murlidhar Borase (DIN: 03330328) has been appointed as a Director in the vacancy created by Mr. M. G. Tirodkar, who was constrained to relinquish his position as per the disclosures made in the Notice convening the Annual General Meeting dated August 23, 2018. |
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