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HINDUSTAN—MOTORS Hindustan Motors gets court nod to halve share capital
Kolkata, Jan 13 (PTI) Hindustan Motors Ltd today said the company has got Calcutta High Court’s approval to half its share capital to Rs 80.58 crore which in turn will reduce in its accumulated losses.
Hindustan Motors accumulated loss stood at Rs 132 crore as on March 31.
The company had intimated BIFR in May that accumulated losses as on end March 2010 have resulted in erosion of more than 50 per cent of peak net worth during the immediately preceding four financial years.
With the reduction in the capital by Rs 80.58 crore its losses, will get reduced by the same extent. PTI BSM RG RAH 01132012
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