Essen Supplements India Ltd has informed that the Board of Directors of the Company at its meeting held on September 04, 2008, has approved the following
1. Issue of 30,00,000 Equity Shares of Rs 10/- each at par on preferential basis to a group of Investors in compliance with Chapter XIII of the SEBI (DIP) Guidelines, 2000 as detailed below:
Name No of Equity Shares
i) Mr Ganesh Kumar Singhania 10,00,000
ii) Mrs Anita Singhania 10,00,000
iii)Mrs Abha Sultania 5,00,000
iv) M/s Vastav Dealers Pvt Ltd 5,00,000
2. Increase in Authorized Share Capital of the Company from Rs 350 Lacs to Rs 1000 Lacs by creation of additional 65,00,000 equity shares of Rs 10/- each and alteration in capital clause of Memorandum and Article of Association of the company.
3. Opening of a new bank account with HDFC Bank Ltd at Central Plaza branch.
Appointment of two Additional directors Mr Arun Kumar Singh and Mr Arup Chakraborty was not approved by the Board.
The Company has further informed that pursuant to section 81(1A) and other relevant provisions of the Companies Act, 1956 & other rules & regulations, consent of the Shareholders will be taken, for the preferential allotment of 30,00,000 equity shares and increase in the Authorised Share Capital of the company as mentioned above, in the forthcoming Annual General Meeting to be held on September 29, 2008.
1. Issue of 30,00,000 Equity Shares of Rs 10/- each at par on preferential basis to a group of Investors in compliance with Chapter XIII of the SEBI (DIP) Guidelines, 2000 as detailed below:
Name No of Equity Shares
i) Mr Ganesh Kumar Singhania 10,00,000
ii) Mrs Anita Singhania 10,00,000
iii)Mrs Abha Sultania 5,00,000
iv) M/s Vastav Dealers Pvt Ltd 5,00,000
2. Increase in Authorized Share Capital of the Company from Rs 350 Lacs to Rs 1000 Lacs by creation of additional 65,00,000 equity shares of Rs 10/- each and alteration in capital clause of Memorandum and Article of Association of the company.
3. Opening of a new bank account with HDFC Bank Ltd at Central Plaza branch.
Appointment of two Additional directors Mr Arun Kumar Singh and Mr Arup Chakraborty was not approved by the Board.
The Company has further informed that pursuant to section 81(1A) and other relevant provisions of the Companies Act, 1956 & other rules & regulations, consent of the Shareholders will be taken, for the preferential allotment of 30,00,000 equity shares and increase in the Authorised Share Capital of the company as mentioned above, in the forthcoming Annual General Meeting to be held on September 29, 2008.
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