Artificial Electronics Intelligent Material Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2019
Auditor and Management Disclosures and Notes for the annual results dated 31 Mar 2019
1. The above audited financial results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 27th May 2019. results.
2. The Company operates in a single segment.
3. Corresponding figures of the previous quarter/year have been regrouped, recasted and reclassified to make them comparable wherever necessary.
4. The Board, vide resolution dated 22nd December, 2017, has considered and approved the proposal to reduce the Securities Premium Account of the Company from Rs. 22,603,200/· to Rs. 2,193, reduction of the entire amount lying to the credit of Share Forfeiture Account of the Company amounting to Rs. 11,869,500/· and part of the fully paid up Share Capital of the Company amounting to Rs. 20,121,600/·, and that such reduction be effected by writing off the entire Accumulated losses amounting to Rs. 54,592,107/-, subject to the approval from the Court and other statutory authorities as and where applicable. The above proposal has been approved by Shareholders vide special resolution passed at Extra ordinary General Meeting held on 11th April, 2018. The Company has received No objection letter dated 21st February 2018 from Bombay Stock Exchange. Company has filed a petition with NCIT on 10th May 2018 and Company is awaiting approval.