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| Exchange Disseminated Time 29/12/2016 18:15:06 | Prakash Constrowell Ltd has informed BSE that the Board of Directors of the Company at its meeting held on December 29, 2016, which commenced on 3.00 p.m. and concluded on 6.00 p.m., inter alia, has transacted the following:
1. Considered and approved Increase in Authorised Capital from 15 crore to 30 crore of Company for further issue of capital subject to the approval of the Members of the Company through postal ballot by way of passing special resolution under Section 42 and 62 of the Companies Act, 2013 and other necessary regulatory approvals.
2. Considered and approved Issuance of capital and raising funds by issue of upto 10,00,00,000 eligible securities of Rs. 1/- each of the Company through Qualified Institutional Placements in accordance with SEBI (ICDR) Regulations and other applicable law subject to the approval of the Members of the Company through postal ballot by way of passing special resolution under Section 42 and 62 of the Companies Act, 2013 and other necessary regulatory approval. |
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