The board of directors of the Bhagyanagar India Ltd at its meeting held on April 09, 2009, inter alia, has approved:
Buy Back of the Company’s fully paid-up equity shares of Rs 2/- each, from open market through Stock Exchange mechanism, subject to the approval of the members through postal ballot and from SEBI under the SEBI (Substantial Acquisition of Shares And Takeovers) Regulations, 1997, for an amount not exceeding Rs 20,00,00,000/-(Rupees Twenty Crores only) to a minimum of 50,00,000 shares and a maximum of 1,00,00,000 shares, up to a maximum price of Rs 40/- per equity share, in accordance with the provisions contained in the Articles of Association, 77A, 77AA, 77B and other applicable provisions of the Companies Act, 1956.
Buy Back of the Company’s fully paid-up equity shares of Rs 2/- each, from open market through Stock Exchange mechanism, subject to the approval of the members through postal ballot and from SEBI under the SEBI (Substantial Acquisition of Shares And Takeovers) Regulations, 1997, for an amount not exceeding Rs 20,00,00,000/-(Rupees Twenty Crores only) to a minimum of 50,00,000 shares and a maximum of 1,00,00,000 shares, up to a maximum price of Rs 40/- per equity share, in accordance with the provisions contained in the Articles of Association, 77A, 77AA, 77B and other applicable provisions of the Companies Act, 1956.
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