Reduction of Share Capital by RT Exports
RT Exports Limited (‘RTEL’) was incorporated as a Private Limited Company under the name and style of “R.T. Exports Private Limited” on 1 st May, 1980 in the state of Maharashtra having its registered office at Mumbai. The company converted to a Public Limited company and the name was changed to “RT Exports Limited”. The company got listed on BSE on 30 th July 2001. The company is engaged in business of export and local trading of agri-products especially Basmati rice which is procured from Bundi, Rajasthan and exported under the brand name “White Pearl” to various countries like US, UK, European and Gulf countries. Transaction The company proposes to reduce its entire issued and paid-up Preference share capital under section 66 of the Companies Act, 2013 (‘Act’). The Company has issued 700,000, 9% Cumulative Preference Shares of Rs. 100/- each fully paid-up which are due to be redeemed on or before March 31, 2020. The Company has further issued 11,98,258, 6% Non-Cumulative Pref...