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| Exchange Received Time 18/06/2017 11:19:20 Exchange Disseminated Time 18/06/2017 11:19:28 Time Taken 00:00:08 | We wish to inform you that the Board of Directors of the Company at the meeting held today i.e., 17th June, 2017 has interalia, considered and approved the following:
a. Increase in the Authorised Share Capital and Consequential amendments to Memorandum of Association of the Company;
b. Conversion of 6 % Redeemable Non-Cumulative Preference Shares to Equity Shares owing to the Scheme for Sustainable Structuring of Stressed Assets
c. Implementation of Scheme for Sustainable Structuring of Stressed Assets (S4A Scheme);
d. Approval for conversion of Loan by Lenders into Equity Shares/Optionally Convertible Debentures (OCDs) of the Company ('Securities') and also issue and allot pursuant to implementation of the Reserve Bank of India S4A Scheme for the Company;
f.Appointment of Statutory Auditor to fill casual vacancy.
the Board has decided that the Extraordinary General Meeting of the Company shall be convened on 13th July, 2017
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