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| Exchange Disseminated Time | Sumeet Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 05, 2014, has taken the following decision:
Pursuant to ‘In-Principle’ approvals from Stock Exchanges and subsequent approval shareholders on dated January 21, 2013, Board of Directors of the Company in their meeting dated February 05, 2013 have allotted 4 (Four) optionally fully convertible debentures of Rs. One Crore each for cash aggregating to Rs. 4.00 Crores to IFCI Venture Capital Funds Limited.
On the expiry of the term of the OFCDs, IFCI Venture Capital Funds limited intimated the Company not to exercise the option to convert the Debentures into Equity shares of the Company and Board noted the same. |
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