Pavna Industries Ltd

Pavna Industries Ltd

Pavna Industries Ltd has announced the appointment of M/s Suri & Sudhir, Chartered Accountants as the Internal Auditor of the Company. The Board of Directors has also approved the lapse of 24,00,000 Convertible Warrants issued under the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The warrant holders have informed the Board that they will not be able to pay the balance consideration within the stipulated time, resulting in the warrants lapsing. The upfront subscription amount received at the time of allotment stands forfeited.

Pavna Industries Ltd

Pavna Industries Ltd has announced the identification of senior management personnel and the lapse of 24,00,000 convertible warrants issued under the SEBI ICDR Regulations. The warrants lapsed due to non-payment of the balance consideration within the stipulated time. The company has forfeited the upfront subscription amount of ₹30,30,00,000 and will retain the amount.

Pavna Industries Ltd

Pavna Industries Ltd has announced the lapse and forfeiture of 24,00,000 Convertible Warrants issued under the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The warrants were issued to certain promoter and promoter group for an issue price of ₹505/- per warrant. The Company will not receive the balance 75% consideration from the warrant holders within the stipulated timeline, and the outstanding warrants have lapsed upon expiry of the exercise period. The upfront subscription amount received at the time of allotment, amounting to ₹30,30,00,000/- (₹30.30 Crore), stands forfeited. The Company has also announced the identification of Senior Management Personnel of the Company arising from an internal restructuring of the Company's reporting hierarchy.