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Outcome of board meeting of Vishal Bearings

Capital Market 

Held on 15 October 2016

Vishal Bearings announced that the Meeting of Board of Directors of the Company was held on 15 October 2016 and following decisions have taken on record:

1. Increase in Authorised Share Capital of the Company from existing Rs. 50,000,000 (Rupees Five Crore) divided into 5,000,000 (Fifty Lakh) equity shares of Rs. 10/- each to Rs. 100,000,000 (Rupees Ten Crore) divided in to 1,000,000 (One Crore) equity shares of Rs. 10/- each.

2. Consequently alteration in capital clause of Memorandum of Association.

3. Issue of Bonus Shares by capitalising the reserves to the shareholders of the Company in the proportion of 1:4 (One Bonus share for every Four shares held) which will be subject to the approval of the members.

4. Extra-Ordinary General Meeting of the Company Schedule to be held on 14 November 2016 at 04:00 PM at registered office of the Company.

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First Published: Tue, October 18 2016. 10:42 IST