Mukat Pipes intimates on reduction of capital

As per BIFR order

Mukat Pipes announced that in terms of para 11.5 and 16 of the Order passed by Hon'ble BIFR on 19 February 2015 the Company reduced its Share Capital by de-rating its existing Authorised Share Capital by 50% by reducing the face value of the existing Equity Shares of Rs.10/- each to Rs. 5/- each.

In terms of the said sanctioned Scheme of DRS the Authorised Share Capital consisting of 1,00,00,000 Equity shares of Rs.10/- each aggregating to Rs.10 crore was sub-divided into 2,00,00,000 Equity shares of Rs.5/- each aggregating to Rs.10 crore and that Paid up Share Capital consisting of 78,30,000 Equity shares of Rs.10/- each aggregating to Rs. 7.83 crore was reduced / de-rated to Rs. 78,30,000 Equity share of Rs.5/- each to Rs. 3.91 crore.

The said reduction in paid up capital, as approved by the BIFR vide their Order passed on 19 February 2015 sanctioning the Scheme of DRS, was confirmed by BIFR and registered by the ROC, Maharashtra, Mumbai on 26 August 2015.

Powered by Capital Market - Live News