NCLT Order yet to be issued for consolidation of shares
Blue Circle Services has cancelled the record date of 28 July 2017 for consolidation of face value of equity shares.As per Section 61 of Companies Act, 2013, Company needs to obtain NCLT Order for consolidation in face value of Shares. The Company has approached to NCLT for obtaining requisite order but have been informed that the process will take between 21 days to 60 days to study and hear the case and then to issue order. Thus, in view of more time to be taken by NCLT to issue Order, the Company has cancelled the record date for consolidation of equity shares.
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