Supertex Industries Ltd has informed that the Board of Directors of the Company at its meeting held on November 08, 2008, inter alia, has reduced the paid up capital of the Company by 80 percent of its existing paid up value thereby each equity share of Re 1 each fully paid up shall be written down to Re 0.20 paise each, fully paid up.
Further, 50 such shares of Re 0.20 paise each be consolidated into one equity share of Rs 10/- each fully paid up such that the Paid up Share Capital, post forfeiture, as per above be reduced from Rs 6,72,00,000/- (divided into 6,72,00,000 equity shares of Re 1/- each) to 13,41,329 shares of Rs 10 each, the balance, to be set off against the carry forward losses of the Company as per 7b of the order of the Board for Industrial & Financial Reconstruction, New Delhi dated September 16, 2008.
Further, 50 such shares of Re 0.20 paise each be consolidated into one equity share of Rs 10/- each fully paid up such that the Paid up Share Capital, post forfeiture, as per above be reduced from Rs 6,72,00,000/- (divided into 6,72,00,000 equity shares of Re 1/- each) to 13,41,329 shares of Rs 10 each, the balance, to be set off against the carry forward losses of the Company as per 7b of the order of the Board for Industrial & Financial Reconstruction, New Delhi dated September 16, 2008.
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