Held on 10 October 2014
Shekhawati Poly-Yarn announced that the Board of Directors of the Company at its meeting held on 10 October 2014, inter-alia, has considered and transacted the following business:1. The Board has decided to withdraw the preferential issue of 17,98,89,330 Warrants convertible into Equity Shares as approved by the shareholders of the Company in their 23rd Annual General Meeting held on 12 September 2014 due to non disclosure of the identity of the natural persons who are the ultimate beneficial owners of the shares proposed to be allotted and/or who ultimately control the proposed allottees in the explanatory statement to the notice of the said 23rd AGM under Regulation 73 (1) (e) of SEBI (ICDR) Regulations, 2009.
2. The Board has decided to file with the Stock Exchanges a fresh application for the Preferential Issue in Compliance with SEBI (ICDR) Regulations, 2009, Companies Act, 2013 and other applicable laws, rules and regulations.
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