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| Exchange Received Time 14/11/2019 11:37:26 Exchange Disseminated Time 14/11/2019 11:37:36 Time Taken 00:00:10 | Pursuant to Regulation 32 of SEBI LODR 2015, please find below the Statement of Deviation or Variation reviewed by the Audit Committee at their meeting held on 13th November, 2019.
a. Deviation in the use of proceeds from the objects stated in the offer document or explanatory statement to the notice for the general meeting:
There is no deviation in the use of proceeds from the objects stated in the explanatory statement to the notice of the general meeting.
b. Category wise variation:
The application money raised through preferential allotment of Equity Shares and Convertible Warrants is Rs. 49.99 Crores till 30th September, 2019 and the Company has utilized Rs. 45.01 Crores. The balance amount of Rs. 4.98 Crores is pending for utilization.
The aforesaid balance of Rs. 4.98 Crores, has been temporarily invested in Liquid fund/s and shall be utilized as and when required by the Company for the objects stated in the explanatory statement to the notice for the General meeting. |
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