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| Exchange Received Time 28/06/2018 15:02:26 Exchange Disseminated Time 28/06/2018 15:02:34 Time Taken 00:00:08 | 1.The Board approved the Issuance of Equity Shares on right basis to existing shareholders of the Company on a record date in accordance with Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 as amended and other applicable law.
Further, for the purpose of giving effect to the right issue, the Board constituted a Committee called as 'Executive Committee' and delegated the power to appoint the Merchant Banker and to decide the structure, term and conditions of the issue including but not restricted to instrument option, rights entitlement , issue price, record date, timing of issue and other relevant matter. 2. The Board also approved the redemption of 23,07,500-10% cumulative Redeemable preference shares of Rs. 10/- each and authorized the Executive Committee to take all necessary actions in this regard.
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