Vishal Cotspin Board approve implementation of BIFR scheme, to reduce share capital

Vishal Cotspin Ltd has announced that the Board of Directors of the Company at its meeting held on December 20, 2006 approved implementation of the Rehabilitation scheme of the company sanctioned by the Hon’ble BIFR.

As provided in the scheme of rehabilitation, the share capital of the company will be reduced by 50% and accordingly one share will be cancelled for every two shares held as fully paid up.

The share transfer agent is authorized to issue fresh share certificate in respect of shares held on physical form and to undertake corporate action reducing the capital for shares held in demat form.

Source : Equity Bulls

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