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| Exchange Received Time 12/12/2017 19:04:38 Exchange Disseminated Time 12/12/2017 19:04:46 Time Taken 00:00:08 | Please note:
1. Pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith Un-audited Financial Results for the quarter and half year ended September 30, 2017 ('UFR') prepared in accordance with IND-AS, as reviewed by the Audit Committee and approved by the Board of Directors of the Company at their respective meetings held today. Also attached is the Limited Review Report of the Auditors of the Company on the UFR.
2. The Board of Directors at its meeting held on December 12, 2017 has approved following:
a. conversion of the lender banks' debt to the extent of Rs.150 Crore into 25,00,00,000 equity shares of Rs.6/- each fully paid up at par pursuant to Strategic Debt Restructuring with a reference date of October 24, 2017, which will result in Lenders holding 51% of the post issue total equity share capital of the Company (including issue referred in sub para (b) hereof) and which shall be subject to approval of Members in general meeting, the Stock Exchanges, SEBI and such other appropriate approving authorities as may be required.
b. Issue and allotment of upto 13,17,60,238 equity shares of Rs.6/- each aggregating to Rs.79,05,61,428/- (Rupees Seventy Nine Crore Five Lakh Sixty One Thousand Four Hundred Twenty Eight Only); and 8,60,00,000 Redeemable Preference shares of Rs.10/- each aggregating to Rs.86,00,00,000/- (Rupees Eighty Six Crore Only); in one or more tranches to the promoter, co-promoter, strategic investor or their associate companies.
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