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Blue Diamonds in talks with strategic investor after capital erosion
Daily FT
|January 22, 2026
Board confirms serious loss of capital; net assets fall to Rs. 114.6 m against stated capital of Rs. 252 m EGM held yesterday to present recovery plan
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BLUE Diamonds Jewellery Worldwide PLC has said it is in discussions with a strategic investor in the jewellery industry as part of efforts to restore its capital position, after its net assets fell below the statutory threshold defined under the Companies Act.
The company said the Board has determined that it has incurred a serious loss of capital, triggering the requirement to formally notify shareholders and convene an Extraordinary General Meeting (EGM), which was held yesterday.
It said that its net assets as at 31 March 2024 stood at Rs. 114.56 million, compared to stated capital of Rs. 252.04 million. Based on these figures, the Board concluded that net assets had fallen below 50% of stated capital, constituting a serious loss of capital under the Act.
यह कहानी Daily FT के January 22, 2026 संस्करण से ली गई है।
हजारों चुनिंदा प्रीमियम कहानियों और 10,000 से अधिक पत्रिकाओं और समाचार पत्रों तक पहुंचने के लिए मैगज़्टर गोल्ड की सदस्यता लें।
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