The Hindu Business Line : Tata Steel capital recast approved

THE board of directors of Tata Steel has approved a proposal to adjust the debit balance of Miscellaneous Expenditure Account not exceeding Rs 1,550 crore against the balance standing to the credit of the Capital Redemption Reserve Account and Securities Premium Account of the company as on March 31, 2002.

The debit balance to be adjusted is to the extent not written off or adjusted as at December 31, 2002 and accretions / variations thereto during the period January 1, 2003 to March 31, 2003, the company informed BSE.

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Tata Steel capital recast approved