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JINDAL STAINLESS LTD. - Outcome of Board Meeting
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31 May 2016
Jindal Stainless Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 28, 2016, has fixed Relevant Date as June 08, 2016 for the purpose of issuance of equity shares of the Company to Jindal Stainless (Hisar) Limited (&quot;JSHL&quot;) for an amount not exceeding Rs. 366,18,66,570 (Rupees Three Hundred and Sixty Six Crore Eighteen Lakh Sixty Six Thousand Five Hundred and Seventy only) being the amount due and payable by the Company to JSHL as of the &apos;Appointed Date 1&apos; i.e. close of business hours before midnight of March 31, 2014 at a price to be determined in accordance with Chapter VII of the Securities and Exchange Board of India (Issuance of Capital and Disclosure Requirements) Regulations, 2009 as specified in the Composite Scheme of Arrangement amongst the Company, JSHL, Jindal United Steel Limited and Jindal Coke Limited and their respective shareholders and creditors, as approved by the Honble High Court of Punjab &amp; Haryana at Chandigarh vide its order dated September 21, 2015 (as modified vide order dated October 12, 2015).&lt;BR&gt;&lt;BR&gt;The number of equity shares to be issued will depend upon the price at which such equity shares of the Company will be issued to JSHL as determined in accordance with Chapter VII of the SEBI (ICDR) Regulations.
View all announcements for JINDAL STAINLESS LTD. Source: BSE India