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| Exchange Disseminated Time | Jindal Stainless Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 10, 2014 had, inter alia, constituted a ‘Reorganization Committee’ to explore and evaluate various options of reorganizing the Company’s assets in an optimal way. The Board of Directors of the Company had, at its meeting held on August 08, 2014, inter alia, advised the Reorganization Committee to expedite the process of exploring various options with the concerned stakeholders in accordance with the mandate given by the Board of Directors at its meeting held on February 10, 2014.
Pursuant to the directions of the Board of Directors, the Reorganisation Committee, in consultation with reputed advisors, consultants and legal counsel, has submitted a draft “Asset Monetization and Business Reorganization Plan” (‘AMP’) to the domestic lenders of the Company (‘Lenders’) for their consideration. The AMP is aimed to facilitate enhancement of the networth and viability of the Company and unlock value of the stakeholders. Once approved, the Company will take the necessary steps for the effective implementation of the AMP in accordance with applicable laws. |
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