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| Exchange Disseminated Time | | HMT Ltd has informed BSE that The Revival & Restructuring Plans of the Company was approved by the Government of India which envisages financial support of Rs. 1083.48 Crores which includes cash infusion of Rs. 425 Cr against which the Company has to issue of 8% Redeemable Preferential Share Capital for Rs. 425 Crore. In the phase I the Government of India has released the sanctioned funds amounting to Rs. 217 Crore. Further, the informed that the Board of Directors of the Company at their 305th Meeting held on January 25, 2014 approved the allotment of fully paid-up 8% Redeemable Preference Shares of Rs. 100/- each for a face value of Rs. 217 Cr. in favour of President of India which is redeemable within two years as per the terms of sanction of the investment by Government. |
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