BSE : Alan Scott Industries Ltd (code : 539115)
Alan Scott Industries announced that the Board of Directors of the Company at its meeting held on 26 February 2016, inter alia, has approved the following:
1. The Board considered and agreed to implement the scheme of reduction of Share Capital in accordance with Section 100 to 104 of the Companies Act, 1956 and other applicable provisions.
2. The Board approved the appoint Advocate, Functional Director and other intermediaries as may be required as per Regulation 37 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, required for obtaining various reports and related assistance for the implementation of the scheme of reduction of share capital under section 100 to 104 of the Companies Act, 1956.
3. The draft scheme of reduction of share capital under section 100 to 104 of the Companies Act, 1956, as placed before the Board, as recommended by the Audit Committee, has been approved by the Board. The same will be submitted to the stock exchanges and other concerned authorities, for further action to be taken and authorized the Managing Director for the same.