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| Exchange Disseminated Time | Jai Balaji Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 28, 2012, has approved the following;
1. Approved the Issue of Warrants convertible into Equity Shares of the Company of face value Rs. 10/- each, to the Promoters / Promoter Group Company(s), on preferential basis, for a sum aggregating to Rs. 50/- Crores in accordance with chapter VII of the Securities & Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as per the CDR Letter of Approval ("CDR LOA”) dated September 20, 2012, subject to the approval of the Shareholders of the Company and such other statutory approvals, as may be required.
2. Given authority to the Directors to enter and execute the Master Restructuring Agreement (MRA) with the Banks. |
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