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Nandan Denim announced that the Board of Directors of the Company vide their circular resolution dated 16 April 2015, has considered and transacted the following:
1. Withdrawal of the preferential issue of 80,00,000 Convertible Warrants of Rs. 80/- each to the Promoter and Non-Promoter Group, as approved by the shareholders of the Company through Postal Ballot Notice dated 03 February 2015;
2. The Board has further decided to plan a fresh Preferential Issue in Compliance with SEBI (ICDR) Regulations, 2009, Companies Act, 2013 and other applicable laws, rules and regulations, in due course and the Notice regarding the same shall be sent to the shareholders on approval by the Board.
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