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| NOTICES |
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| Notice No. |
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20181221-45 |
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Notice Date |
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21 Dec 2018 |
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| Category |
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Corporate Actions |
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Segment |
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Equity |
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| Subject |
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Resolution Plan - Reduction of Share Capital & suspension of trading in equity shares of Vardhman Industries Limited. (Scrip Code 513534). |
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| Content |
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Trading members of the Exchange are hereby informed that, Vardhman Industries Limited has fixed the Record Date for the purpose of suspension of trading due to reduction of Share Capital of the company as per the resolution plan approved by the Hon’ble National Company Law Tribunal at New Delhi.
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COMPANY NAME &
CODE
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RECORD DATE
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PURPOSE
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NO DEALINGS FROM
DATE &
SETT. NO.
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Vardhman Industries Limited.
(513534)
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03/01/2019
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As per the Resolution Plan approved by Hon’ble NCLT and under provision of Insolvency & Bankruptcy Code 2016
Reduction of Share Capital:
“As per the Resolution Plan, the Company shall be delisted in accordance with Regulation 3(3)(a) of the SEBI (Delisting of Equity Shares) Regulations, 2009 (as amended from time to time) and as per the specific procedure laid down under the resolution plan submitted by JSW Steel
Limited ("JSWSL") and approved by the Hon'ble National Company Law Tribunal, Principal Bench (at New Delhi) (NCLT).
Since the liquidation value payable to the existing shareholders of VIL as determined under regulation 35 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 after paying off dues in the order of priority as defined under section 53 of the Insolvency and Bankruptcy Code, 2016 is nil, the entire existing shareholding of the Company shall stand reduced to nil by way of a capital reduction with effect from the Effective Date.
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02/01/2019
DR- 190/2018-2019
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Trading Members of the Exchange are requested to take note of it.
Mangesh Tayde
Senior Manager –Listing Operations (CRD)
December 21, 2018 |
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