|
| Exchange Disseminated Time 09/12/2015 17:56:52 | Fiberweb India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on December 02, 2015, has transacted the following:
1. The Board of Directors of the Company has considered and approved the derating of existing equity by 40% as per BIFR order.
2. The Board of Directors of the Company has approved to issue new shares to Promoters & Strategic Investors on preferential basis as per BIFR order.
3. The Board of Directors of the Company has fixed December 16, 2015 as record date for Postal Ballot.
4. The Board of Directors of the Company has approved Postal Ballot (including remote e-voting notice) and appointed Central Depository Services (India) Limited For providing remote e-voting facility to the shareholders of the company.
5. The Board of Directors has nominated Mr. Pravin V. Sheth Chairman & Managing Director of the Company to be responsible to complete the postal ballot (including remote e-voting) process.
6. The Board of Directors of the company has approved calendar of events.
7. The Board of Directors has appointed Mr. Bipin C. Shah Chartered Accountant in practice, Mumbai as Scrutinizer for Postal Ballot (including remote e-voting).
8. Borrowing power of the Board of Director has been modified by additional Rupees Three hundred crores over and above share capital and free Reserve of the company. Pursuant to Section 180(1)(c) of the companies Act 2013 and clarifications issued by Ministry of Corporate Affairs, the ordinary resolution requires approval of shareholders by passing Special resolution. |
|
|