Outcome of Board Meeting
Newsroom - Newsflash
Thursday, 31 March 2011 00:00

Jai Mata Glass Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 31, 2011, has approved the following:

1. Allotment of 35,00,000 equity shares of Re. 1/- each to Sh. Chander Mohan Marwah (promoter), on preferential basis, for redemption of 35,000 Cumulative Optionally Redeemable Convertible Preference shares (CORCPS) of Rs. 100/- each issued to Industrial Development Bank of India Ltd. In accordance with the Order of Hon''ble Board for Industrial and Financial Reconstruction dated April 10, 2006, whereby the Rehabilitation Scheme was sanctioned by the Hon''ble BIFR.

2. Redemption of 35,000 Cumulative Optionally Redeemable Convertible Preference Shares (CORCPS) of Rs. 100/- each, which had earlier been issued to Industrial Development Bank of India Ltd., and were due for redemption on March 31, 2011, in accordance with the Order of Hon''ble Board for Industrial and Financial Reconstruction dated April 10, 2006, whereby the Rehabilitation Scheme was sanctioned by the Hon''ble BIFR.

 

Source: Moneycontrol.com and BSE