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| Exchange Disseminated Time | Igarashi Motors India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 28, 2013, inter alia, have resolved and approved the following:
1. Approving allotment of 92,32,362 Optionally Convertible redeemable Debentures ('OCD')
Pursuant to shareholders approval obtained by way of Postal Ballot on August 19, 2013, the Board of Directors approved allotment of 92,32,362 (Ninety two Lacs Thirty Two Thousand Three Hundred and Sixty Two) optionally convertible redeemable debentures with a 9% (nine per cent.) coupon to Mr. Padamabhan Mukund at an issue Price of Rs. 65/- per each OCD for a total subscription amount of Rs. 60,01,03,530 (Rupees Sixty Crores One Lac Three Thousand Five Hundred and Thirty).
2. Resignation of Mr. M. S. S. Srinath as Director
Approved resignation of Mr. M. S. S. Srinath as Director of the Company with effect from August 28, 2013. |
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