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Jammu & Kashmir Bank -532209 : 23-03-2009 09:12:18   Back
Jammu & Kashmir Bank - Forfeiture of Convertible Warrants
Jammu & Kashmir Bank Ltd has informed BSE that the Board of Directors of the Bank at its meeting held on March 14, 2009, has forfeited 40,92,140 Convertible Warrants issued to the State Government of Jammu & Kashmir on preferential basis for not exercising their option to apply for equity shares of the Bank within the prescribed time. Further, 10% advance payments amounting to Rs 2809.50 Lacs made by the State Government of Jammu & Kashmir, towards the allotment of aforesaid warrants was also forfeited by the Board of Directors in accordance with the provisions of SEBI (DIP) Guidelines, 2000.

Source : BSE   -   www.bseindia.com

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