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| Exchange Disseminated Time 30/11/2016 16:00:00 | Metalyst Forgings Ltd has informed BSE that the Board of Directors of the Amtek Auto Limited, Metalyst Forgings Limited, ARGL Limited and Castex Technologies Limited met independently and each Board approved the infusion of fresh capital by Investor(s) and restructuring of the debt and the Company as proposed by the Investor(s).
A Joint Board Meeting of all the companies was subsequently held where the approval of individual board was adopted.
The Joint Board further approved the proposal relating to:
(a) Infusion of fresh capital by new Investor(s).
(b) Restructuring and Reduction of debt subject to the approval of lenders.
(c) The process of Monetisation to support the Restructuring and Debt Reduction of the Company
The above said proposal is subject to the approval of Shareholders, lenders and concerned authority. |
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