Sell Compact Disc ...

So many times I have warned about the quality of this management.Everytime supporters of Compact disc claims that this is another infosys in making and it is recommended by this analyst or that analyst.Now everybody is convinced the real picture of its promoters by today`s announcement by the company which is reproduced below:
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Compact Disc - Clarification on Dividend for the year ended Mar 31, 2009
Announcement: Compact Disc India Ltd has informed BSE that:

`The chairman informed the members in the Extra Ordinary General Meeting held on November 30, 2009 that the Company was granted working capital limits by The Hongkong Shanghai Banking Corporation Ltd. The bank has charged excess interest and other expenses which were not in conform to the sanction letter, hence a dispute arises with the bank. The Company was expecting a settlement with the bank on or before the Extra Ordinary General Meeting. The dispute with the bank could not be resolved. The Company requires prior bank`s consent for payment of dividend.

The chairman requested the members to defer the proceedings of Extra Ordinary General Meeting in view of ongoing dispute with the bank. The members considered the request favourably and deferred the proceedings of Extra Ordinary General Meeting unanimously without taking any agenda item. The members also authorized the Board of Directors to hold another General Meeting to consider the agenda item.

Resultantly the dividend was not considered in the Extra Ordinary General Meeting held November 30, 2009, as the proceedings of Extra Ordinary General Meeting were deferred.`

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Where is all the advocates now ?????