The Reserve Bank of India today notified that M/s. Everonn Education Limited (name changed from Everonn Systems India Ltd.) has passed a resolution at the board of directors' level and at the extra-ordinary general meeting for increase in the limit for purchase of its equity shares and convertible debentures by Foreign Institutional Investors (FIIs), through primary market and stock exchanges, under the Portfolio Investment Scheme up to 100 per cent of its total paid up capital.

Accordingly, the company has been removed from Reserve Bank of India caution list and hence share of the said company can now be purchased in the secondary market on behalf of FIIs/NRIs/PIOs who have obtained permission to invest under the Portfolio Investment Scheme subject to the existing ceilings and guidelines in this regard.

J.D.Desai
Assistant Manager

Press Release : 2009-2010/1674