Publishing of Newspaper advertisement w.r.t Notice of Scheme of Reduction of Share Capital
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Tridev Infraestates Limited (formerly Ashutosh Paper Mills Limited) has informed BSE about publishing newspaper advertisements in English and Hindi on April 23, 2025, regarding the Notice of its Scheme of Reduction of Share Capital. The company had filed an application with the NCLT New Delhi Bench-II on March 13, 2025, seeking approval to reduce its equity share capital from Rs. 6,52,54,000 (65,25,400 shares of Rs. 10 each) to Rs. 3,26,27,000 (32,62,700 shares of Rs. 10 each), a 50% reduction. The reduction is being done to write off debit balance in the Profit & Loss Account, with any surplus credited to Capital Reserve. The NCLT hearing is scheduled for July 2, 2025.
Existing shareholders will see their share count effectively halve, but no cash is paid out and face value remains Rs. 10. The move is aimed at cleaning up accumulated losses on the books rather than returning capital, which could improve the company's reported reserves position if approved.