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OPTO CIRCUITS (INDIA) LTD. - Outcome of Board Meeting
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30 May 2016
Opto Circuits (India) Ltd has informed BSE that the Board of Directors at their meeting held on May 30, 2016, have considered and taken on record the Annual Accounts for the FY 2015 - 2016.&lt;BR&gt;&lt;BR&gt;The Board, took on record the below mentioned facts, which caused delay in completion of Audit process and further to the deliberation, it was decided to publish the Audited Financial Results of the Company on or before June 30, 2016.&lt;BR&gt;&lt;BR&gt;1. Consequent to Hostile takeover of Company&apos;s overseas subsidiary, by a Venture Capital Fund as reported earlier, there is a delay in obtaining information for audit purposes, pending legal process.&lt;BR&gt;&lt;BR&gt;2. Restructuring of Loans to the Banks.&lt;BR&gt;&lt;BR&gt;3. The Company is in the process of filling up Casual Vacancy in the office of the Auditor.&lt;BR&gt;&lt;BR&gt;In the light of the above facts, the Audited Financial Results of the company for the Financial Year ended March 31, 2016 will be published on or before June 30, 2016.&lt;BR&gt;&lt;BR&gt;The meeting of Board of Directors commenced at 3.30 PM and concluded at 5.00 PM.
View all announcements for OPTO CIRCUITS (INDIA) LTD. Source: BSE India