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HBL Power Systems Ltd has informed the BSE that the Registrar of Companies, Andhra Pradesh, has agreed to the company request to allow it to extend the holding of annual general meeting by three months.
The company had made an application for extension of time for holding the AGM for the financial year ended March 31, 2012 by three months in view of pending completion of the merger process between a subsidiary and a step-down subsidiary of the Company.
As a consequence, the available time (before September 30, 2012) would not be adequate for the company to complete the preparation of consolidated financial statements, print and circulate annual reports to the members of the company. Therefore, this extension became necessary, the company stated.
The company shares were trading flat at Rs 14.39 during the day.
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