what does this mean ???
Steps Envisaged in Achieving the above Shareholding Pattern i. The existing Equity Shares of the Corporate Debtor held by the Promoters / Promoters Group shall be extinguished and those held by persons other than Promoters / Promoters Group shall be written down such that their existing holding of Rs. 251.77 crores (Rupees Two Hundred Fifty One Crores and Seventy Seven Lakhs Only) being shares with face value of Rs. 2 (Two) constituting 97.32% stake shall be reduced to Rs. 4.125 crores (Rupees Four Crores and Twelve Lakhs Fifty Thousand Only) being shares with face value of Rs. 10 (Ten) constituting 7.5% stake in the proposed shareholding pattern. ii. The Corporate Debtor will issue fresh equity shares of face value of Rs.10 each at par aggregating to Rs. 46.75 crores (Rupees Forty Six Crores Seventy Five Lakhs Only) to the Resolution Applicant / its Affiliates and Rs. 4.125 crores (Rupees Four Crores Twelve Lakhs Fifty Thousand Only) to the existing Financial Creditors as envisaged in the Resolution Plan.
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