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Sep 07, 2013, 01.00 PM IST | Source: Moneycontrol.com

RoC grants extension of 3 months for holding AGM: Visa Steel

Visa Steel has informed BSE that the Registrar of Companies, Orissa vide letter dated September 05, 2013 has granted extension of 3 months for holding the Annual General Meeting of the Company, for the financial year ended March 31, 2013.

Visa Steel Ltd has informed BSE that the Company had made an application to the Office of the Registrar of Companies, Orissa for the extension of time for 3 (three) months for holding the Annual General Meeting for the financial year ended March 31, 2013, to give effect to the Scheme of amalgamation of Kalinganagar Metcoke Private Limited (KMPL), a wholly owned subsidiary of the Company, with the Company and their respective shareholders and creditors with effect from March 31, 2013 ("Appointed Date"). The said Scheme of Amalgamation is in process at the Hon’ble High Court of Judicature, Orissa. On the Scheme becoming effective KMPL will be amalgamated with the Company. The Balance Sheet of KMPL would therefore be required to be consolidated with the Balance Sheet of the Company. In view of the above, it is not possible to hold the Annual General Meeting of the Company within the time period stipulated under Section 166 read with Section 210 of the Companies Act, 1956, i.e., on or before September 30, 2013.The Registrar of Companies, Orissa vide letter dated September 05, 2013 has granted extension of 3 months for holding the Annual General Meeting of the Company, for the financial year ended March 31, 2013.Source : BSE

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