On 31 January 2014
Magna Colors announced that its directors in board meeting on 31 January 2014 have approved reduction of equity share capital of the company subject to approval of shareholders, Hon'ble High Court Stock Exchanges where the shares are listed, pursuant to the provisions of Section 100 to 104 of Companies Act 1956 and other relevant authorities from Rs 11,50,00,000 divided into 1,15,00,000 equity shares of Rs 10 each fully paid-up to Rs 1,15,00,000 divided into 11,50,000 equity shares of Rs 10 each fully paid up and such reduction be effected by canceling Rs 10 per share on 1,03,50,000 equity shares amounting to Rs 10,35,00,000 in existing paid up equity share capital against debit balance in profit & loss account.Powered by Capital Market - Live News