Li Taka Pharmaceuticals failed to get shareholders nod for its resolution for propose rights issue in its AGM and the company management has to cancelled its plans. However, other two resolutions for increase in authorized share capital and alteration of Article of Association were passed with majority by the shareholders.

In the meeting of the board of directors which was held prior to the aforesaid annual general meeting the directors have decided to call urgently an extra ordinary general meeting of the company to consider the proposal to make preferential allotment of equity share to the promoters, their relatives and friends to the extent of Re one crore as a part of compliance of conditions stipulated by the Consortium Bankers while sanctioning restructuring proposal.