IndiaNivesh - Board approves Sub-division of equity shares
IndiaNivesh Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 14, 2012, have decided to seek the approval by shareholders through Postal Ballot pursuant to the provisions of Section 192 A of the Companies Act, 1956 read with the Companies (Passing of the Resolution by Postal Ballot) Rules, 2001, for the following:
1. Sub-division of each of the Ordinary (Equity) Shares of the face value of Rs. 10/- each in the Equity Share Capital of the Company fully paid-up into 10 Ordinary (Equity) Shares of the face value of Re. 1/- each fully paid up.
2. Amendment to the Capital Clause of the Memorandum of Association of the Company to reflect the aforesaid sub-division.
Further, Board of Directors has appointed Ms. Chandanbala O. Mehta of M/s. Chandanbala Jain & Associate as the Scrutinizer for conducting the Postal Ballot procedure in transparent manner.