Munjal Auto at its meeting held on September 24, 2011 has approved sub-division from Rs 10 to Rs 2.
Munjal Auto Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 24, 2011, inter alia, has approved seeking approval of Members of the Company pursuant to Section 97 & other applicable provision of Companies Act, 1956 in respect of following matters by Postal Ballot procedure pursuant to Section 192A of the Act:1. Sub-division of, 1 (one) equity share of the Company having a face value of Rs. 10 each fully paid up into 5 (five) equity shares having a face value of Re. 2 each fully paid up.2. Increase in the authorized capital of the Company, which presently stands in the form of Equity Share Capital of Rs 12,50,00,000 (Rupees Twelve crore Fifty Lac) comprising 1,25,00,000 (One Crore Twenty Five lac) Equity Shares of Rs. 10 each be to Rs. 25,00,00,000 (Rupees Twenty Five crore) of which Rs. 20,00,00,000 (Rupees Twenty Crore) shall be of Equity Share Capital comprising of 10,00,00,000 (Ten crore) Equity Shares of Rs. 2 each and the balance Rs 5,00,00,000 (Rupees Five crore) shall be as Unclassified Capital.Source : BSE
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