Saag R R Infra: Board Meeting adjourn to Feb 22, 2014

SAAG RR Infra Ltd has informed BSE that the Board at its meeting held on February 14, 2014 to approve the financials for the quarter ended December 31, 2013, adjourned the meeting to February 22, 2014 for the following reasons:

1. The present financials are prepared based on a going concern basis. The Board however noted that the financial position of the Company does not warrant preparing the financials on a going concern basis.

2. The financial position of the Company is such that the assumption that the Company financials are to be prepared on going concern basis may not be justifiable.

3. The Board advised the Company to prepare financials based on the net realizable asset method.

4. The Board decided to meet after the financials were so prepared to decide on whether the Company can carry on its business or wind up the Company.

Further the Company has informed that, at the meeting of the Board of Directors of the Company to be held on February 22, 2014, the board may consider winding up of the Company, if required.