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Adhiraj Distributors Ltd.

BSE: 780018 Sector: Others
NSE: N.A. ISIN Code: INE067R01015
BSE 05:30 | 01 Jan Adhiraj Distributors Ltd
NSE 05:30 | 01 Jan Adhiraj Distributors Ltd

Adhiraj Distributors Ltd. (ADHIRAJDISTRIB) - Chairman Speech

Company chairman speech


The following Statement sets out all material facts relating to the Special Businessmentioned in the accompanying Notice:

The Securities of the company equity shares are listed with Bombay Stock Exchange onits SME- Institutional Trading Platform under Scrip Code 780018. The Board of Directors ofthe Company has discussed that no fruitful purpose is going to be achieved by keepingCompany's securities listed with Bombay Stock Exchange on its SME- Institutional TradingPlatform. Further the Company is burdened with number of additional compliances cost andexpenses on account of listing of its securities with the stock exchange. Afterconsidering all these factors the Board has decided to seek Voluntary Exit of its Equityshares from SME- Institutional Trading Platform of Bombay Stock Exchange. In terms ofregulations of the Stock Exchange the company can seek Voluntary Exit with the approval ofits shareholders by passing Special Resolution through Postal Ballot where ninety percentof total votes and the majority of non promoter votes casted in favour of the proposal andwith the approval of Stock Exchange.

In view of the above the Board proposed to seek the approval of the members of thecompany by passing Special Resolution by postal ballot through electronic means to seekthe Voluntary Exit of the Equity Shares of the company from the SME- Institutional TradingPlatform of the Bombay Stock Exchange Mumbai. The company will seek approval of StockExchange after passing the Special Resolution by the members of the company.

None of the Directors of the Company is in anyway concerned or interested in the aboveresolution.

The Board of Directors therefore recommends the resolution for the approval of theshareholders.

Regd. Office: By order of the Board of
76B Mahanirban Road Directors
Lansdowne (Neh aGoel)
Kolkata- 700029
West Bengal
Dated : August 20th2018 Company Secretary