Info Drive Software Ltd has announced that the Board of Directors of the Company at its meeting held on December 29, 2009, has decided to convene an Extraordinary General Meeting on February 01, 2010, to obtain members' approval for increasing the Authorised Share Capital of the Company from the present 6,00,00,000 (six crores) Equity Shares of Rs. 10/- each aggregating to Rs. 60,00,00,000/- (Rupees Sixty Crores only) to 7,00,00,000 Equity Shares of Rs. 10/- each aggregating to Rs. 70,00,00,000/- (Rupees Seventy crores only) and amend the Memorandum and Articles of Association to give effect to the above.
A Resolution under Sec 81, 81(1A) of the Companies Act, 1956, for issue of ADRs / GDRs and other convertible securities, Equity Shares on pari passu terms with existing Equity Shares of the Company up to and including US $ 20 million (US Dollar Twenty million only) or its equivalent in Indian Rupees, in one or more tranches, and take necessary action in this regard.
The Board will also ratify the appointment and Remuneration payable to the Joint Managing Director under Sec 269 read with Schedule XIII of the Companies Act.
The Stock was trading at Rs.46.95, down by Rs.1.50 or 3.10%. The stock hit an intraday high of Rs.49 and low of Rs.46.05.
The total traded quantity was 103658 compared to 2 week average of 39505.
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Union Budget