Coromandel Engineering Company has informed that at the meeting of the Board of Directors held today i.e., September 25, 2021, the Board approved the following: Considered, reviewed and approved a draft scheme for reduction of the entire preference share capital of the Company by cancelling and extinguishing the total issued, subscribed and paid-up preference share capital of the Company, comprising of 28,35,630 number of 7% Cumulative Redeemable Preference Shares, each Rs 100 fully paid up amounting to a total preference share capital of Rs 28,35,63,000 pursuant to Section 66 of the Companies Act, 2013 and National Company Law Tribunal (Procedure for Reduction of Share Capital of Company) Rules, 2016 and in compliance with other applicable Rules and regulations, if any.
The above information is a part of company’s filings submitted to BSE.
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