Polar Ind BoD approves extension of FY06 by 6 months

New Delhi, Aug 25 (UNI) Polar Industries Ltd today said its board has approved the extension of its financial year by six months and the time for holding Annual General Meeting for the financial year 2005-06 by three months.

''The Board of Directors at its meeting, has approved extension of financial year of the company by six months upto September 30, 2006 and also besides the extension of time for holding the Annual General Meeting for the financial year 2005-06 by three months upto March 31, 2007, subject to approval of West Bengal Registrar of Companies,'' a company statement said.

Further, the board decided to review the status of its sickness in terms of provisions of the Sick Industrial Companies (Special Provisions) Act, 1985 on the basis of audited accounts for the 18-month accounting period ended September 30, 2006.

Accordingly no reference is being made to BIFR based on opinion formed in its meeting held on June 28, 2006, the statement added.

UNI CS RA RAI1913