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NSE Announcements on Gangotri Textil
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MMB MessengerGangotri Textiles Limited has informed the Exchange that the Board of Directors in their meeting held on May 07,2009 have approved the following. [1] Co-option of the following persons as Additional Directors.[a] Sri.A.S.Ravichandran [b] Sri. Ullash Sanghavi [2] Allotment of 70,00,000, 6.5 % Redeemable Cumulative Preference Shares of Rs 100/ each to M/s State Bank of India towards conversion of loan outstanding in terms of the approved Corporate Debt Restructuring Scheme.[3]The Allotment of the following Equity Shares has been deferred in view of the company not obtained In-principle approval for listing of the shares from the Stock Exchanges [a] 67,84,261 Equity Shares of Rs 5/- each@ Rs 7.37 per share to M/s State Bank of India, towards conversion of loan outstanding.[b] 97,69,335 Equity Shares of Rs 5/- each @Rs 7.37 per share to Mrs. Anita Tibrewal towards conversion of Un-secured loan....
BSE Announcements on Gangotri Textil
Posted by : MMB Messenger
Gangotri Textiles Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 07, 2009, inter alia, has approved the following:
1. Co-option of the following persons as Additional Directors.
(a) Sri. A S Ravichandran
(b) Sri. Ullash Sanghavi
2. Allotment of 70,0O,000, 6.5 % Redeemable Cumulative Preference Shares of Rs 100/- each to M/s. State Bank of India towards conversion of loan outstanding in terms of the a Corporate Debt Restructuring Scheme.
3. The allotment of the following Equity Shares has been deferred in view of the Company not obtained in-principal for listing of the shares from the Stock Exchanges.
(a) 67,84,261 Equity Shares of Rs 5/- each @ Rs 7.37 per share to M/s. State Bank of India, towards conversion of loan outstanding.
(b) 97,69,335 Equity Shares of Rs 5/- each @ Rs 7.37 per share to Mrs. Anita Tibrewal towards conversion of Un-secured loan....
BSE Announcements on Gangotri Textil
Posted by : MMB Messenger
With reference to the earlier annoucement dated April 29, 2009, regarding the Board Meeting to be held on May 07, 2009, to consider allotment of
1. 68,39,945 Equity Shares of Rs 5/- each to M/s. State Bank of India, Main Branch, Chennai for conversion of loans outstanding.
2. 70,00,000 6.5% Redeemable Cumulative Preference Shares of Rs 100/ each to M/s. State Bank of India, Main Branch, Chennai for conversion of loans outstanding.
3. 98,49,521 Equity Shares of Rs 5/- each to Mrs. Anita Tibrewal, a member of the
Promoters Group for the amount brought in by her into the Company and kept as
Un-secured loan after receiving necessary approval from SEBI.
These allotments are to be made in terms of the approved Corporate Debt Restructuring Scheme, Gangotri Textiles Ltd has now informed BSE that the allotment of Equity Shares to the Banks and to the Promoters gets revised as follows and the Board of Directors will consider allotting the following shares only:
1. 67,84,261 equity shares of Rs 5/- each @ 7.37 per share to M/s. State Bank of India, Main Branch, Chennai for conversion of loans outstanding.
2. 97,69,335 equity shares of Rs 5/- each @ Rs 7.37 per shares to Mrs. Anita Tibrewal, a member of the Promoters group for the amount brought in by her into the Company and kept as unsecured loan after receiving necessary approval from SEBI.
3. 70,00,000 6.5% Redeemable Cumulative Preference Shares of Rs 100/ each to M/s. State Bank of India, Main Branch, Chennai for conversion of loans outstanding....
BSE Announcements on Gangotri Textil
Posted by : MMB Messenger
Gangotri Textiles Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on May 07, 2009, inter alia, to consider allotment of :
1. 68,39,945 Equity Shares of Rs 5/- each to M/s. State Bank of India, Main Branch, Chennai for conversion of loans outstanding.
2. 70,00,000 6.5% Redeemable Cumulative Preference Shares of Rs 100/- leach to M/s. State Bank of India, Main Branch, Chennai for conversion of loans outstanding.
3. 98,49,521 Equity Shares of Rs 5/- each to Mrs. Anita Tibrewal, a member of the
Promoters Group for the amount brought in by her into the Company and kept as
Un-secured loan after receiving necessary approval from SEBI.
These allotments are to be made in terms of the approved Corporate Debt Restructuring Scheme....
BSE Announcements on Gangotri Textil
Posted by : MMB Messenger
Gangotri Textiles Ltd has informed BSE that the Registered Office of the Company has been shifted from 473 / 2 , P.K.D. Nagar, Peelamedu Coimbatore - 641 004 to the following address with effect from April 20, 2009.
Gangortri Textiles Ltd, Old No 42, New No 35. Robertson Road, R S Puram, Coimbatore - 641 002....
BSE Announcements on Gangotri Textil
Posted by : MMB Messenger
Gangotri Textiles Ltd has informed BSE that the Registered Office of the Company has been shifted from 473 / 2 , P.K.D. Nagar, Peelamedu Coimbatore - 641 004 to the following address with effect from April 20, 2009.
Gangortri Textiles Ltd, Old No 42, New No 35. Robertson Road, R S Puram, Coimbatore - 641 002....
NSE Announcements on Gangotri Textil
Posted by : MMB MessengerGangotri Textiles Limited has informed the Exchange that "The Registered Office of our company has been shifted from 473 / 2 P.K.D. Nagar, Peelamedu, Coimbatore - 641 004 to the following address with effect from 20-04-2009 ; Gangotri Textiles Limited, Old No 42, New No 35, Robertson Road, R.S Puram, Coimbatore - 641 002 "....
NSE Announcements on Gangotri Textil
Posted by : MMB Messenger
BSE Announcements on Gangotri Textil
Posted by : MMB MessengerGangotri Textiles Ltd has informed BSE that the Company has opted to submit the financial results for the entire financial year ending March 31, 2009. Accordingly the Company shall convene the Board Meeting in this regard during the last week of June, 2009 and publish the audited financial results on or before June 30, 2009 in the applicable format....
NSE Announcements on Gangotri Textil
Posted by : MMB MessengerGangotri Textiles Limited has informed the Exchange that "The Company has opted to submit the financial results for the entire financial year ending 31st March, 2009. Accordingly we shall convene the Board Meeting in this regard during the last week of June, 2009 and publish the audited financial results on or before 30th June, 2009 in the applicable format"....
NSE Announcements on Gangotri Textil
Posted by : MMB MessengerGangotri Textiles Limited has submitted to the Exchange a copy of the proceedings of the Extra Ordinary General Meeting of the Company held on March 16, 2009. A copy of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). ...
BSE Announcements on Gangotri Textil
Posted by : MMB MessengerGangotri Textiles Ltd has informed BSE that the Extra Ordinary General Meeting (EGM) of the Company was held on March 16, 2009....
NSE Announcements on Gangotri Textil
Posted by : MMB MessengerGangotri Textiles Limited has informed the Exchange that an Extra-ordinary General Meeting has been convened to be held on March 16, 2009 to consider inter-alia approving allotment of (1) 68,39,945 Equity Shares of Rs. 5/- each to the identified lender banks towards conversion of loans in to Equity and (2) 98,49,521 Equity Shares of Rs. 5/- each to the Promoters and their Associates towards conversion of Un-secured loan brought in by them in to Equity. in accordance with the approved Scheme of Corporate Debt Restructuring. The Board of Directors at their meeting to be convened at a later date will allot 1,66,89,466 Equity Shares of Rs. 5/- each as stated above after getting approval from the Shareholders in the Extra-Ordinary General meeting....
BSE Announcements on Gangotri Textil
Posted by : MMB Messenger
Gangotri Textiles Ltd has informed BSE that the Board of Directors of the company at its meeting held on January 30, 2009, inter alia, has approved following:
(1) Relevant Date & E.G.M Date:
In view of the adverse conditions prevailing in the Textile Industry, the Company proposed restructuring of its debts under CDR Mechanism. The same was referred to the CDR Empowered Group and the CDR Empowered Group has approved the restructuring proposal under CDR system.
In terms of the said CDR Scheme approved-
(a) Rs 5.00 crores out of the loans due to Banks is to be converted into Equity Shares on the price to be worked out as per SEBI Guidelines.
(b) A sum of Rs 70.00 crores out of the loans due to Banks is to be converted into Cumulative Redeemable Preference Shares, redeemable in three equal annual installments as March 31, 2016, March 31, 2017 and March 31, 2018.
(c) The unsecured loans already extended by the Promoters/ Associates to the extent of Rs 7.20 crores has to be converted into Equity Shares on a price to be worked out as per SEBI Guidelines.
The CDR Scheme was taken on record by the Board of Directors at their meeting held on January 30, 2009.
Since the issue of these shares is in a manner not contemplated under section 81 of the Companies Act, 1956, a Special Resolution in terms of section 81 ( 1A) Companies Act, 1956 is necessary. To consider this Special Resolution, an Extra Ordinary General Meeting of the Company is proposed to be held on Monday, the March 16, 2009.
In terms of SEBI Guidelines, regarding pricing of preferential allotment, December 26, 2008 will be deemed to be the "Relevant Date" for the purpose issue of Equity Shares to the Banks and to the Promoters in terms of the approved CDR Scheme.
Necessary applications will be made to the SEBI wherever any exemption /approvals/ permissions are to be obtained in regard to these issues....
NSE Announcements on Gangotri Textil
Posted by : MMB MessengerGangotri Textiles Limited has informed the Exchange that the Board of Directors of the company at their meeting held on January 30, 2009 have approved following: (1) Relevant Date & E.G.M Date: In view of the adverse conditions prevailing in the Textile Industry, the Company proposed restructuring of its debts under CDR Mechanism. The same was referred to the CDR Empowered Group and the CDR Empowered Group has approved the restructuring proposal under CDR system. In terms of the said CDR Scheme approved- (a) Rs 5.00 crores out of the loans due to Banks is to be converted into Equity Shares on the price to be worked out as per SEBI Guidelines. (b) A sum of Rs 70.00 crores out of the loans due to Banks is to be converted into Cumulative Redeemable Preference Shares, redeemable in three equal annual installments as March 31,2016, March 31,2017 and March 31, 2018. (c) The unsecured loans already extended by the Promoters/ Associates to the extent of Rs 7.20 crores has to be converted into Equity Shares on a price to be worked out as per SEBI Guidelines. The CDR Scheme was taken on record by the Board of Directors at their meeting held on January 30, 2009. Since the issue of these shares is in a manner not contemplated under section 81 of the Companies Act, 1956, a Special Resolution in terms of section 81 ( 1A) Companies Act, 1956 is necessary. To consider this Special Resolution, an Extra Ordinary General Meeting of the Company is proposed to be held on Monday, the March 16, 2009. In terms of SEBI Guidelines, regarding pricing of preferential allotment, December 26, 2008 will be deemed to be the "Relevant Date" for the purpose issue of Equity Shares to the Banks and to the Promoters in terms of the approved CDR Scheme. Necessary applications will be made to the SEBI wherever any exemption /approvals/ permissions are to be obtained in regard to these issues....
