Ashirwad Capital Ltd has informed that the members at the Annual General Meeting (AGM) of the Company held on March 29, 2008, inter alia, have passed the following resolution:
A sum of Rs 150,00,000/- being a part of the undistributed profits of the Company standing to the credit of its General Reserve be capitalized and that the said amount be applied in paying up in full at par 150,00,000 equity shares of Re 1/- each in the capital of the Company to be allotted and distributed as fully paid bonus shares to and amongst the Members who are on the Companys Register of Members of the equity shares on such date as may be determined by the Board of Directors of the Company (the Board) to the holders of the existing 250,00,000 issued and paid up equity shares of the Company in the proportion of 3 (Three) new equity share for every 5 (Five) issued and paid up equity shares held by them, respectively on the said date on the footing that they become entitled to their new equity shares as capital and not as income.
A sum of Rs 150,00,000/- being a part of the undistributed profits of the Company standing to the credit of its General Reserve be capitalized and that the said amount be applied in paying up in full at par 150,00,000 equity shares of Re 1/- each in the capital of the Company to be allotted and distributed as fully paid bonus shares to and amongst the Members who are on the Companys Register of Members of the equity shares on such date as may be determined by the Board of Directors of the Company (the Board) to the holders of the existing 250,00,000 issued and paid up equity shares of the Company in the proportion of 3 (Three) new equity share for every 5 (Five) issued and paid up equity shares held by them, respectively on the said date on the footing that they become entitled to their new equity shares as capital and not as income.
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