Mawana Sugars - Outcome Of Board Meeting

Mawana Sugars Ltd has informed that the Board of Directors of the Company at its meeting held on March 28, 2007, has decided to modify the said Scheme to reduce the paid up equity capital of the merged Company from Rs 73.95 crores to Rs 24.64 crores, through the same Scheme.The reduction in capital shall become effective only upon sanction of the Scheme by the High Court u/s 391/394 of the Companies Act, 1956.The Board of Directors of the Company has also decided that, upon merger becoming effective, the name of the merged Company shall stand changed to Mawana Ltd, subject to such approvals as may be required in this regard.