Maharashtra Industrial AGM approves increase in share capital

Maharashtra Industrial Leasing & Investments Ltd has announced that the members at the Annual General Meeting (AGM) of the Company held on September 30, 2005, inter alia, have approved the increase in Authorised Share Capital of the Company from Rs 1,50,00,000/- divided into 15,00,000 equity shares of Rs 10/- each to Rs 4,00,00,000/- divided into 40,00,000 equity shares of Rs 10/- each ranking paripassu with the existing equity shares.

Authority to Board for the capitalization of Rs 2.25 lakhs from the free reserve of the Company for the issue of Bonus shares, and accordingly the aggregate of such sums are hereby set free for distribution among the eligible existing holders, whose names stand on the Register of Members on such date as may be fixed by the Board affect obtaining necessary approvals from the applicable authorities, and that the same be applied in paying up in full such number of new equity shares of Rs 10/- each to be allotted and distributed as fully paid bonus shares to and amongst the said member in the proportion of 5 bonus shares for every 3 equity shares held by such member, subject to necessary provisions & approvals.

Authority to Board to fix the record date for the issue of Bonus Shares.

Source : Equity Bulls

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