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| Exchange Received Time 19/04/2017 13:40:15 Exchange Disseminated Time 19/04/2017 13:40:22 Time Taken 00:00:07 | | The Company had received in-principle approval from your stock exchange for issuance and allotment of 8,32,87,939 Compulsorily Convertible Preference Shares and 1,88,00,000 Equity Shares of the Company on preferential basis on 28th March, 2017, which is attached hereto for you ready reference. In this regard, the Company vide a letter dated April 3, 2017, undertook that the Company would not issue or allot 50,00,000 equity shares to the Silver Stallion Limited, as was proposed, owing to an inadvertent technical error. We would now wish to inform you that ITF, Mauritius and Resonance Opportunities Fund, who had submitted their intention to subscribe to 50,00,000 equity shares each of the Company, did not subscribe to this issue. |
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