The board will modify the resolution passed for further issue of shares on rights basis at the extraordinary general meeting (EGM) of the company held on August 18, 2003.
The company seems to be in a mood to encash the ongoing bull markets. The company promoters proposed in September this year to subscribe to 40 lakh convertible warrants, but they are silent on the issue now.
In September, it allotted 15,00,000 shares to N W Insurance Services, after which its equity has increased to Rs 13 crore from Rs 11.5 crore.
