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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 August 26, 2011, inter alia, has taken the following business:
1. Re-appointment of Mr. Dinesh Sharan Khare as Executive (Wholetime Director) has been confirmed for a further period of five years w.e.f. December 16, 2011 subject to approval of Shareholders.
2. Borrowing Powers of the Company proposed to be increased from 750.00 Crores to 1000.00 Crores.
3. The Company has proposed to offer, issue and allot up to 50,00,000 (Fifty Lacs) Equity warrants on preferential basis to the Promoters /Promoter group at a issue price to be arrived as per Chapter VII of SEBI Regulation subject to approval of the Shareholders.
4. Board has proposed to increase the ceiling of 24% of the paid up capital of the Company on investment in securities by Financial Institutional Investors (FIIs) to 49% subject to approval of shareholders. |
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