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| Exchange Disseminated Time 30/01/2016 17:06:33 | Alok Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on January 30, 2016, has considered and noted / approved the following:
1. Invocation of Strategic Debt Restructuring (SDR) with the reference date being November 27, 2015 by the Lenders of the Company through Joint Lenders Forum (JLF), at its meeting held on January 16, 2016;
2. Increase in Authorised Share Capital of the Company from Rs. 1500 Crore to Rs. 4000 Crore, subject to approval of the Members at the ensuing General Meeting;
3. Issue and allot fresh equity shares upto 255,78,76,091 of Rs. 10 each, upon conversion of debt as a result of invocation of SDR, subject to approval of the Members at the ensuing General Meeting and
4. Calling an Extra Ordinary General Meeting on March 14, 2016 at 12.00 noon at the registered office of the Company for the approval of above mentioned items. |
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