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| Exchange Disseminated Time | Sumeet Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on December 28, 2012, has taken the following decisions:
1. The Board of Directors of the Company has, subject to approval of the Shareholders in the Extra Ordinary General Meeting and receipt of all other necessary approvals from regulatory authorities, approved to offer & issue 15.5% Optionally Fully Convertible Debenture (15.5% OFCDs) not exceeding Rs. 10.00 Crores to IFCI Venture Capital Funds Limited on preferential basis pursuant to chapter VII of extant SEBI (ICDR) Regulations, 2009, (the "Preferential Allotment").
2. The Extraordinary General Meeting of the company is proposed to be held on January 21, 2013 for obtaining approval from shareholders of the Company pursuant to section 81 (1A) of the Companies Act, 1956 for the aforesaid Preferential Allotment. |
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