18 October 2003
Dear
Sir,
Sub:
Compliance with Clause 36 and other
applicable
provisions
of the Listing
Agreement.
We request
you to refer our earlier letter dated 8th
October, 2003
informingyou of
the meeting of
the Board of
Directors of our
Company convened to beheld on Wednesday, 22nd October,
2003 at 11.00 a.m, at Mumbai to consideramong other things, the Un-audited
financial results of
the Company for the
2nd quarter
and half year
ended 30.09.2003.
We
hereby
further inform
you that the Board will also consider in the said meeting,
inter-alia, the
following :
| 1 |
To consider and approve in principle, the restructuring envisaging
consolidation of the steel business of
Jindal Iron and
Steel Co.Ltd.,
with the
Company. |
| 2 |
To consider and approve the appointment of consultants and valuers to evaluate the proposal in
detail. |
| 3 |
Prepayment and settlement of outstanding dues of Rs.383.44
Crores tosome of
the unsecured foreign lenders
subject to
compliance of
certain terms and
conditions. |
This is for
your information
and in
compliance with Clause
36 and other
applicable
provisions of
the Listing
Agreement.
Thanking You,
Yours faithfully
For JINDAL VIJAYANAGAR STEEL
LTD.,
LANCY
VARGHESE
Asst.Company
Secretary.
