Bagalkot Udyog Ltd has informed that the members at the Extra Ordinary General Meeting (EGM) of the Company held on February 25, 2008, inter alia, have sub-divided the Equity Shares Capital into 30,00,00,000 Equity Shares of Rs 1/- (One) each instead of 3,00,00,000 shares of Rs 10/- each and consequently the alternation in the existing Clause V (being Capital Clause) of the Memorandum of Association of the Company by substituting the following Clause V in lieu of existing Clause :
V. The Authorized Share Capital of the Company is Rs 45,00,00,000/- (Rupees Forty Five Crores only) divided into 30,00,00,000 Equity Shares of Re 1/- each (including non-voting equity shares, if permitted under the Law) and 15,00,000 Preference Shares of Rs 100/- each with power to increase or reduce the capital of the Company in accordance with the relevant provisions of the Articles of Association of the Company and the legislative provisions for the time being in force in this behalf and with power to divide the shares in the capital for the time being into several classes and to attach thereto respectively such preferential, qualified or special rights, privileges or conditions as may be determined by or in accordance with the provisions of the Act, and the regulations of the Company and to very, modify or abrogate any such rights, privileges or conditions in such manner as may for the time being be provided by the regulations of the Company.
The existing Share Certificate(s) in relation to the issued, subscribed & paid-up Equity Share capital held by the members in physical form be cancelled and new share certificate (s) be issued in accordance with the Scheme of Rehabilitation / De-merger sanctioned by BIFR in the ratio of their holdings of equity Shares in the Company.
V. The Authorized Share Capital of the Company is Rs 45,00,00,000/- (Rupees Forty Five Crores only) divided into 30,00,00,000 Equity Shares of Re 1/- each (including non-voting equity shares, if permitted under the Law) and 15,00,000 Preference Shares of Rs 100/- each with power to increase or reduce the capital of the Company in accordance with the relevant provisions of the Articles of Association of the Company and the legislative provisions for the time being in force in this behalf and with power to divide the shares in the capital for the time being into several classes and to attach thereto respectively such preferential, qualified or special rights, privileges or conditions as may be determined by or in accordance with the provisions of the Act, and the regulations of the Company and to very, modify or abrogate any such rights, privileges or conditions in such manner as may for the time being be provided by the regulations of the Company.
The existing Share Certificate(s) in relation to the issued, subscribed & paid-up Equity Share capital held by the members in physical form be cancelled and new share certificate (s) be issued in accordance with the Scheme of Rehabilitation / De-merger sanctioned by BIFR in the ratio of their holdings of equity Shares in the Company.
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