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| Exchange Disseminated Time | Gayatri Projects Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 13, 2016, inter alia, has taken on record and /or approved the following:
1. To invest in 9% Non-Convertible Cumulative Redeemable Preference Shares of Rs. 100/- each (including a premium of Rs. 90/- per share) issued by M/s. Gayatri Hi-Tech Hotels Limited (GHHL) in lieu of outstanding EPC receivables of Rs. 235.00 Crores from GHHL. The GHHL EPC contract had helped the company gain significant mileage with clients -showcasing its ability to build high-end commercial buildings in addition to its core road, irrigation and industrial construction prowess.
2. The postal ballot notice for seeking members' approval for the item no.1.
3. Appointment of Shri. K. Venkateswarlu, General Manager & Zonal Head Karnataka, AP & Telangana Zone, Bangalore as a nominee of Bank of Baroda replacing Shri. Umakant K.Bijapur, Former GM & Zonal Head Karnataka, AP & Telangana Zone. |
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