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Exchange Received Time  03/06/2017 16:56:07 Exchange Disseminated Time 03/06/2017 16:56:14 Time Taken 00:00:07 | The Company wishes to inform you that the Board of Directors of the Company, at their meeting held on Saturday 03rd June, 2017 at 11:00 A.M. have reconsidered and approved the following matters: (i) Reclassification of Authorized Share Capital of the Company, subject to an approval of the shareholders in General Meeting; (ii) Increase the Authorized Share Capital of the Company, subject to an approval of the shareholders in General Meeting; (iii) Issue of 40,00,000 Non-Convertible Non-Cumulative Redeemable Preference Shares of face value Rs. 100/- each for an aggregate to Rs. 40 crores in one or more tranches on private placement basis to only promoter/ promoter group, however this securities will not be listed at any Stock Exchange, subject to approval of the shareholders of the Company. The tenure is for a period not exceeding 10 years from the date of allotment and the same will be redeemed in accordance with section 55 of the Companies Act, 2013. |
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