Integrated Capital Services Ltd redeems CNCRPS

The Board of Directors of Integrated Capital Services Ltd at its meeting held on July 10, 2015, has taken on record the resignation of Mr. Rajiv Jaiswal from the office of Managing Director with effect from July 10, 2015 and the resignation of Mr. Sukhbir Singh Bhatia from the office of Internal Auditor.

The Board approved the redemption of 30,000 fully paid up 7% Cumulative Non-Convertible and Redeemable Preference Shares of a par value of Rs. 100/- each aggregating to Rs. 30,00,000/-.

The aforesaid Preference Shares stand extinguished in the records of the Company and henceforth, shall not comprise the issued capital of the Company.

The Company has created the necessary Capital Redemption Reserve in its books of account for an amount of Rs. 30,00,000/- by debiting the same amount to its Profit and Loss Account.

Source : Equity Bulls

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