At meeting held on 16 January 2015
Magna Colors announced that the Board of Directors of the Company at its meeting held on 16 January 2015, has transacted and approved the following business:- have subject to the approval of the Hon'ble High Court of Bombay, shareholders, Stock Exchanges where the shares of the company are listed and other relevant regulatory authorities approved the reduction of Equity Share Capital of the Company from Rs. 11,50,00,000/- divided into 1,15,00,000 Equity Shares of Rs. 10/- (Rupees Ten only) each fully paid up to Rs. 1,15,00,000/- divided into 11,50,000 Equity Shares of Rs. 10/- (Rupees Ten only) each and that such reduction be effected by canceling of 1,03,50,000 Equity Shares of Rs. 10/- each amounting to Rs. 10,35,00,000/- in the existing paid up Equity Share Capital against debit balance in Profit and Loss account.
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