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BMB Music & Magnetics Ltd has informed BSE that a meeting of shareholders of the Company approved by special resolution on June 30, 2008 for utilization of balance of the share premium account to the extent required to adjust Rs 4,80,36,723.34 i.e. amount of business losses, under the provisions of Companies Act, 1956.

The Company proposes to make an petition with the Hon’ble High Court in due course under section 101 and other applicable provisions of the Companies Act, 1956.

Tags: BMB Music

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