Peerless Abasan Finance Ltd has informed that the Board of Directors of the Company at its meeting held on Augsut 03, 2007, inter alia, has taken the following decisions:
1. The Board noted that the Scheme of Amalgamation of Shristi Infrastructure Development Corporation Ltd (Transferor Company) with the Company (Transfree Company), as approved by the High Courts of Delhi and Kolkata became effective from July 30, 2007.
2. The Board appointed following Directors as Additional Directors:
a. Shri. K K Chaudhury
b. Shri. Vinod Juneja
c. Shri. K N Bhandari
3. The Board authorized Company Secretary to implement the following clauses of the Scheme of Amalgamation and take necessary action in this regard:
a. To change the name of the Company from Peerless Abasan Finance Ltd to Shristi Infrastructure Development Corporation Ltd as per clause 14 of the scheme of amalgamation.
b. To change the main Object Clause of the Transferee Company by incorporating the main object of the transferor Company in the manner stated in the clause 13 of Scheme of Amalgamation.
c. To give effect to increase of Authorized Share Capital of the Transferee Company from Rs 20,00,00,000 to Rs 30,50,00,000 consisting of 3,05,00,000 Equity Shares of Rs 10 each.
d. To give effect to reduction and consolidation of existing Paid up Capital of the Company as per Clause 11 of the Scheme of Amlagamtion.
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