Singer India fixes Book Closure for Reduction of Capital & Consolidation of Shares
With reference to the earlier announcement dated July 11, 2008 regarding Book Closure, Singer India Ltd has now informed BSE that book closing of the Company from August 12, 2008 to August 19, 2008 (both days inclusive) for the purpose of the Annual General Meeting scheduled for August 19, 2008, shall also be for the purpose of reducing the subscribed and paid up capital of the Company by 90% from Rs 15,65,23,500/- consisting of 1,56,52,350 equ1ty shares of Rs 10/- each to Rs 1,56,52,350/- consisting of 1,56,52,350 equity shares of Rs 1/- each by writing off Rs 14,08,71,150/- against accumulated losses. Thereafter 10 equity shares of Rs 1/- each shall be consolidated into 1 equity shares of Rs 10/- each, Members holding fractional shares shall be paid their fractional entitlements in due course. This is being done in terms of the rehabilitation scheme approved by The Board for Industrial and Financial Reconstruction (BIFR) vide its Order dated April 28, 2008.
Tags: Singer India