Approach for Liberal Treatment

Approach for Liberal Treatment Hansavivek CHOWGULE STEAMSHIPS has approached the Company Law Board for extension of time to reduce Chowgule's shareholdings and of their associates to 40 per cent, as stipulated under the MRTP Act when its expansion proposal was approved in 1976. The company has contended that the investment market is not yet conducive to fresh issue of equity capital. Moreover, the company has not so far been in a position to declare any dividend on the recently increased share capital