Seeking the shareholders approval for the same, the company has called an extra-ordinary general meeting of the members on February 15, 2001. To facilitate the increase in capital, the company has proposed to raise the authorised capital from the existing Rs 5.50 crore to Rs 6.99 crore. After the shareholder nod to the issue the premium will be decided based on Sebi norms, said company sources.

At present NTL shares are available at Rs 30 per share on the bourses, while it has also touched Rs 200 level during the last six months period. Besides, the company has also sought the shareholders' approval to dispose of its floriculture division located near Bangalore.

According to the company sources, the division is continuously incurring losses and it is found by the board that it is not in the interest of the shareholders to continue the floriculture business. Thus, the board of directors has proposed to dispose of the division to any prospective buyer, said the sources.

Formally known as Nexgen Floritech Ltd, which was promoted in 1997 and went public to raise Rs 2.76 crore to part-finance the floriculture project costing Rs 7 crore. During 1999, the company had opted to diversify into the information technology business and decided to change the name of the company to Nexgen Technology Ltd. As part of its diversification, the company had set up an on-line examination portal, `getcet.com' to prepare the students for competitive examinations.