Held on 16 July 2015
Nissan Copper announced that the Board of Directors of the Company at its meeting held on 16 July 2015, inter alia, has considered the following business:1. Considered and approved Reduction of Equity Share Capital of the Company from 62,855,905 equity shares of Rs. 10/- each to 6,285,590 equity shares of Rs. 10/- each subject to approval of members and other statutory authorities.
2. ASREC (India) vide its letter dated 07 July 2015 has informed the Company that State Bank of Patiala has assigned the facility together with all the underlying security interest, pledges, guarantees, rights, titles and interests to them and thus ASREC (India) has become the major lender in place of State Bank of Patiala for the Company. In the opinion of the management with the support of ASREC (India), the Company should be back on revival path soon.
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