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shares in the proportion 3:5 and 'rights' shares at par in the proportion 1:3. It is also proposed to issue equity shares to the employees, directors and associates of the company. The proposed 'rights' issue will provide funds for capital expenditure required for the expansion, diversification and modernisation programmes of the company. The company has allotted one lakh 15 per cent non-convertible debentures of Rs 100 each to the Army Group Insurance Fund to augment working capital resources. It is also proposed to raise another Rs 2 crore from UTI by issue of secured debentures to it. During the year, the company introduced the 'BDH' trade mark in its chemical division. It will implement this year the prestigious diagnostics project which would further improve the working and image of the company. Also, steps are being taken for conversion of the letter of intent into industrial licence for the manufacture of Dithianon/Delan, one of the fungicides of original research of Celamerck GmbH and Company, West Germany, a company of the Merck group.

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