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| Exchange Disseminated Time 12/11/2016 16:06:30 | Shivam Autotech Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 12, 2016, inter alia, following business transacted :
1. The Board has considered and approved revision in the Borrowings Limits under Section 180(l)(a) of the Companies Act, 2013.
2. The Board has approved to borrow in excess of the paid-up capital and free reserves under section 180(l)(c) of the Companies Act, 2013.
3. The Board has considered and approved the issue of shares to Qualified Institutional Buyers in accordance with Chapter VIII of the SEBI ICDR Regulations.
4. The Board has approved the payment of minimum remuneration to Managing Director and Whole-Time Directors of the Company in case of inadequate profits.
The Board meeting was commenced at 03.30 P.M. and was concluded at 03.45 P.M. |
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