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Notice No20210201-44Notice Date01 Feb 2021
CategoryCorporate ActionsSegmentEquity
SubjectResolution Pan -Suspension of trading in equity shares of SUJANA UNIVERSAL INDUSTRIES LTD ed (Scrip Code : 517224).
Content

Trading members of the Exchange are hereby informed that, SUJANA UNIVERSAL INDUSTRIES LTD

Limited has fixed the Record Date for the purpose of suspension of trading and delisting of entire share capital of company as provided in Resolution Plan approved by the Hon’ble National Company Law Tribunal, Hyderabad Bench:                                     

COMPANY NAME  &

CODE

RECORD DATE

PURPOSE

 

NO DEALINGS  FROM

DATE &

SETT. NO.

 

SUJANA UNIVERSAL INDUSTRIES LTD

 (517224)

 

04/02/2021

 

As per the Resolution Plan approved by Hon’ble NCLT under provision of Insolvency & Bankruptcy Code 2016 :

1.Reduction of Share Capital:

The share capital of the Company will be reduced from Rs. 168,84,10,720/- (Indian Rupees One Hundred and Sixty Eight Crore Eighty Four Lakh Ten Thousand Seven Hundred and Twenty only) to Rs.16,88,41,072/- (Indian Rupees Sixteen Crore Eighty Eight Lakh Forty One Thousand and Seventy Two only), without any payout to the shareholders of the company, by reducing the face value of each issued and outstanding equity share of the Company from Rs.10/- (Rupees Ten) to Re. 1/- (Rupee One).

 

2.Delisting of Equity Shares:

As an integral part of the approved Resolution Plan approved by the Hon'ble NCLT,the equity shares of the Company will stand delisted in accordance with the NCLT Order read with Regulation 3(3) of the Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009. The Liquidation Value of the Company is not sufficient to cover debt of the Financial Creditors of the company in full. Therefore, the Liquidation Value of the Equity shareholder is NIL and hence, the Equity shareholders will not be entitled to receive any payment and hence no offer will be made to any shareholder of the Company, as per the terms of the Resolution Plan

03/02/2021

DR- 213/2020-2021

 

 Trading Members of the Exchange are requested to take note of it.

 

 

Mangesh Tayde

Assistant General Manager – Listing Operations (CRD)

 

February 01, 2021