Dhandapani Finance Ltd has informed that the Board of Directors of the Company at its meeting held on November 24, 2008, inter alia, has approved the following:
1. The sale consideration of Rs 41.1O Crores fixed earlier for slump sale of the Companys Assets and Liabilities to Zwirn Pragati Capfin Pvt. Ltd was revised to Rs 280,000,000/- based on communication received from Zwirn Pragati Capfin Pvt. Ltd as a result of fresh valuation of the assets and liabilities conducted jointly, subject to the approval of the shareholders. In compliance with Sections 293 (1) (d) and 192A of the Companies Act, 1956 the approval for the same shall be obtained through the process of Postal Ballot, under Section l92A read with Postal Ballot Rules, 2001.
2. The Board of Directors has approved the Resignation of Mr. N Balasubramanian, Director from the Board with effect from October 18, 2008.
1. The sale consideration of Rs 41.1O Crores fixed earlier for slump sale of the Companys Assets and Liabilities to Zwirn Pragati Capfin Pvt. Ltd was revised to Rs 280,000,000/- based on communication received from Zwirn Pragati Capfin Pvt. Ltd as a result of fresh valuation of the assets and liabilities conducted jointly, subject to the approval of the shareholders. In compliance with Sections 293 (1) (d) and 192A of the Companies Act, 1956 the approval for the same shall be obtained through the process of Postal Ballot, under Section l92A read with Postal Ballot Rules, 2001.
2. The Board of Directors has approved the Resignation of Mr. N Balasubramanian, Director from the Board with effect from October 18, 2008.
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