Updates on Preferential issue of Warrants

| Updated on September 28, 2011 Published on September 28, 2011

With reference to the earlier announcement dated March 29, 2010 regarding allotment of 300,000 convertible warrants to Mr. Rajiv C. Mody, Chairman & Managing Director at a price of Rs. 176/- each. He had paid a sum of Rs. 1.32 crores being the 25% initial amount payable on allotment of warrants, Sasken Communication Technologies Ltd has now informed BSE that Mr. Rajiv C. Mody has decided not to seek conversion of the above warrants into equity shares and he does not propose to pay the balance amount of Rs. 3.96 crores, The amount of Rs. 1.32 crores paid by him representing the initial amount paid on allotment of such warrants is forfeited.

Source : BSE - >www.bseindia.com

Published on September 28, 2011
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