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C.ACHUTHAN
Lunkad Media & Entertainment Ltd. – Appellant
Versus
Stock Exchange – Respondent
1. The appellant with its registered office at 13, Race Course Road, Indore, is a public limited company, which was originally known as Lunkad Real Estate Ltd. The main object to be pursued on its incorporation was carrying on real estate business. Subsequently, the name was changed to the present name, i.e. Lunkad Media and Entertainment Ltd. The main object clause in the memorandum of association of the appellant was amended to enable the appellant to carry on the business of media and entertainment. Change in name and object clause has the approval of the share holders in an extraordinary general meeting of the members held on 15-3-2000. The appellant, at present, is not engaged in any business. It has deployed its funds by investing in properties, inter corporate deposits in shares of unlisted companies and also in short term finance and investment. The appellant proposes to diversify its activities into media and entertainment industry and with a view to part finance the new business venture, decided to raise funds to the tune of Rs. 350 lakhs from the public by issuing 175 lakhs equity shares of Rs. 2 each, for cash at par. The shares offered to the public are proposed t
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