Held on 24 April 2014
MSP Steel & Power announced that B Chhawchharia & Co., Statutory Auditor of the Company has resigned from the post of auditor on & with effect from 02 April 2014 thereby causing Casual Vacancy in the post of the Statutory Auditor of the Company.The Board of Directors of the Company after considering the recommendations of the Audit Committee at its meeting held on 24 April 2014 appointed Sunil Kumar Agrawal & Associates, Chartered Accountants, as statutory auditor of the Company u/s 139 of the Companies Act, 2013 who shall hold office upto the conclusion of the next Annual General Meeting of the Company.
The Board also decided pursuant to Section 61 of the Companies Act, 2013 and subject to approval of shareholders at the general meeting the Authorised Share Capital of the Company be increased from Rs 117 crore divided into 9.60 crore equity shares of Rs 10 each & 2.10 crore 6% Non Cumulative redeemable preference shares of Rs 10 to Rs 132 crore divided into 9.60 crore equity shares of Rs 10 each & 3.60 crore 6% Non Cumulative redeemable preference shares of Rs 10.
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