Novopan Industries Limited has informed the Exchange that as per the approval of the members by way of Postal Ballot conducted by the Company as per the provision of section 192A read with The Companies (Passing of Resolution by Postal Ballot) Rules 2001 for issue and allotment of 2,50,00,000 - 10% Non-Cumulative Redeemable Preference Shares of Rs. 10/- each the sub-committee of the Board of Directors of the Company has allotted the said Shares to GVK Projects & Technical Services Limited on June 11, 2011.
