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MUKAT PIPES LTD. - Outcome of Board Meeting
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22 Jul 2015
Mukat Pipes Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 18, 2015, inter alia, has considered the following business:&lt;BR&gt;&lt;BR&gt;1. The Board of Directors took note of the order received from BIFR dated February 19, 2015.&lt;BR&gt;&lt;BR&gt;2. As directed in the BIFR Order dated February 19, 2015 the Board decided to Reduce the Paid up Equity Share Capital of the Company from 78,30,000 equity shares of Rs. 10/- each to 78,30,000 equity shares of Rs. 5/- each. Accordingly after &lt;BR&gt;de-rating, Authorised equity share capital of Rs. 10,00,00,000 will remain same, consisting of 2,00,00,000 equity shares of Rs. 5/- each.&lt;BR&gt;&lt;BR&gt;3. As directed in the BIFR Order dated February 19, 2015 the Board decided to make allotment of shares to the Promoters by converting the loan into equity as per the Scheme approved by the BIFR.&lt;BR&gt;&lt;BR&gt;4. As suggested in the Rehabilitation Scheme and as allowed in BIFR Order dated February 19, 2015 the Board decided to approach Regional Director to consider shifting of Registered Office of the Company from the State of Maharashtra to the State of Punjab.&lt;BR&gt;&lt;BR&gt;5. The Board of Directors took on record, an appeal filed to AAIFR for further concessions in certain matters.
View all announcements for MUKAT PIPES LTD. Source: BSE India

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