indiaglobal-8k_040210.htm
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of
Report (Date of earliest event reported): March 31,
2010
INDIA GLOBALIZATION CAPITAL,
INC.
(Exact
name of registrant as specified in its charter)
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Maryland
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001-32830
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20-2760393
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(State
or other jurisdiction of incorporation)
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(Commission
File Number)
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(I.R.S.
Employer Identification No.)
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4336 Montgomery Ave.,
Bethesda, Maryland 20814
(Address
of principal executive
offices) (Zip
Code)
(301) 983-0998
(Registrant’s
telephone number, including area code)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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Item
3.01.
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Notice
of Delisting or Failure to Satisfy a Continued Listing Rule or Standard;
Transfer of Listing
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On
March 31, 2010, India Globalization Capital, Inc. (“we” or the “Company”)
received notice from the NYSE Amex LLC (the “Exchange”) stating that the Company
is not in compliance with Section 704 of the Exchange’s Company Guide.
Specifically, the Company failed to hold an annual meeting of its stockholders
during 2009.
As a
result, the Company has become subject to the procedures and requirements of
Section 1009 of the Company Guide. To maintain its NYSE Amex listing, the
Company must submit a plan to the Exchange by April 30, 2010, advising the
Exchange that the Company intends to regain compliance with Section 704 of the
Company Guide by September 30, 2010. The Company is preparing the
plan to provide for holding a meeting of stockholders on or before September 30,
2010 which can reasonably be expected to bring us into compliance within the
plan period.
Following
its submission, the NYSE Amex Corporate Compliance Department will evaluate our
plan and determine whether we have made a reasonable demonstration in the plan
of an ability to regain compliance with the continued listing standards by
September 30, 2010. If the plan is accepted, we may be able to
continue our listing during the plan period up to September 30, 2010, during
which time we will be subject to periodic review to determine if we are making
progress consistent with the plan. If we do not submit a plan, or if our plan is
not accepted, or if our plan is accepted but we fail to make progress consistent
with our plan, or we are not in compliance by September 30, 2010, we will be
subject to delisting proceedings. Under NYSE Amex rules, we have the right to
appeal any determination by NYSE Amex to initiate delisting
proceedings.
On April
2, 2010, the Company issued a press release disclosing the receipt of the AMEX
warning letter and notice of failure to satisfy a continued listing standard, a
copy of which is attached hereto as Exhibit 99.1.
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Item
9.01.
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Financial
Statements and Exhibits
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(d)
Exhibits
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned thereunto
duly authorized.
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India
Globalization Capital, Inc.
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Date:
April 2, 2010
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By:
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/s/ Ram
Mukunda
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Ram
Mukunda
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Chief
Executive Officer and President
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Exhibit
Index