SURYA PHARMACEUTICAL LTD. - Outcome of Board Meeting
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| 14 Aug 2013 | |
| Surya Pharmaceutical Ltd has informed BSE that :<br/><br/>"The debts of the Company were restructured by its lenders under the Corporate Debt Restructuring (CDR) Scheme and the Master Reconstruction Agreement (MRA) was executed on March 31, 2013. However, due to non fulfilment of certain conditions specified in the MRA, the MRA was cancelled. The consequential effects of cancellation of the MRA on the financial statements of the Company are being examined and its evaluation is expected to take some time. Accordingly, there has occurred a consequent delay in finalisation of un-audited financial results for the quarter ended June 30, 2013 in time for the date settled for the meeting.<br/><br/>In view of the above circumstances, the Board of Directors of the Company, in their meeting held on August 14, 2013, has decided to adjourn the matter of finalisation of un-audited financial results for the quarter ended June 30, 2013 and other matters related thereto till August 31, 2013, and in the opinion of Board of Directors of the Company it would be in a position to compile the financial statements and results by such extended time.<br/><br/>It may be noted that in the absence of subject financial results, the Audit Committee of the Board of Directors of the Company was also unable to consider and review the same." | |
| View all announcements for SURYA PHARMACEUTICAL LTD. | Source: BSE India |
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