Page 142 - KRCL ENglish

Sr. No.
Emphasis
of Matter Statutory Auditor's Remarks Management Reply
Para:

III. Non Compliance of Section 62 Agreed
(1) (a) (i) of Companies Act
2013, regarding the closure of
Right Issue within 30 days. In
the F.Y. 2018-19 the company
has come out with the 2nd
Rights Issue for INR 196 Crore
to the shareholders in their
e x i s t i n g s h a r e h o l d i n g
proportion which was kept
open from 1.12.2018 to
2 9 . 1 2 . 2 0 1 8 ( b o t h d a y s
inclusive).
During FY 19-20 the company has
allotted shares against 2nd right
issue to the tune of Rs. 23.52
Crores whereas in June'2020 the
remaining shares of 2nd Right
issue were allotted to the
shareholder amounting to Rs.
29.40 Crores.
The Board of Director in their
meeting have allowed for receiving
t h e s u b s c r i p t i o n f r o m t h e
shareholders even after the
closure of Rights Issue.
Likewise in the F.Y. 2019-20 the
Company has announced 3rd
Right issue of Rs. 490 Crores to the
shareholders in their existing
shareholding proportion which
was kept open for the period
16/12/2019 to 14/01/2020.
However till the year end no
amount was received against the
same. Consequently, the Board of

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