Liberty Phosphate Ltd has informed that in the limited review report of the Company for the quarter ended December 31, 2007, the auditors of the Company have made the following observations:

 
1. Sales of Rs 2740.10 Lacs of 3rd Quarter ended December 31, 2007 includes Trading Sales of Rs 1.02 lacs and Export Sales of Manufactured Goods of Rs 44.16 Lacs during the Quarter under Review.

 
2. Employees Cost includes amount of Director Remuneration of Rs 2.43 Lacs for the 3rd Quarter of F.Y. 2007-08.

 
3. Company has not provided Liability towards amount of Gratuity and Leave Encashment payable to employees as per requirement Accounting Standards-15 of ICAI, New Delhi.

 
4. Face Value of Equity Shares of the Company is Rs 10 per shares. All shares are fully paid up.

 [Read More]

Polytex India Ltd has informed that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on March 17, 2008, inter alia, to transact the following business:

1. To increase the authorised share capital of the Company from Rs 1,50,00,000 (One Crore Fifty Lacs) divided into 15,00,000 (Fifteen Lacs) Equity shares of Re 10/- each to Rs 15,00,00,000 (Fifteen Crores) divided into 1,50,00,000 (One Crore Fifty Lacs) Equity shares of Rs 10/- each and consequential amendments in the Memorandum & Articles of Association of the Company.
2. To offer, issue and allot on behalf of the Company, 1,20,00,000 equity shares of the face value of Rs 10/- each in the share capital of the Company at par for an amount aggregating to Rs 12,00,00,000/- (Rupees Twelve Crore only) to the existing shareholders of the company which at the date of offer (the Record Date) to be decided by the Board of Directors of the company in due course are holders of the existing equity shares of the company, on a rights basis or their renounces in the proportion of 8 new equity shares for every 1 existing fully paid equity shares of the company for cash, on such terms and conditions as may be decided and deemed appropriate by the Board at the time of issue and allotment in consultation with the Lead Managers and other such professional intermediaries, subject to necessary provisions & approvals. They are reported in batter excellent result in last quarter target. So I am Say Stock and Stock Market price will be increased……..

 [Via]