Widely read:
KLG Systel Ltd has informed BSE that :
1. Sh. R. P. Singh, Independent Director nominee of State Bank of India has resigned from the said Company (w.e.f. May 15, 2013).
2. Company has dosed all the operations for the time being due to failure of CDR Scheme and NPA status. The management of the Company is in the process of planning a revival plan.
3. State Bank of India has informed to the said Company that they shall proceed with sale of promoter shares if dues are not paid by May 15, 2013. Company is in talk with SBI to explore revival of the Company.
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