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| Exchange Received Time 17/08/2018 17:05:03 Exchange Disseminated Time 17/08/2018 17:05:10 Time Taken 00:00:07 | The Board of Directors of the Company (Board) at its Meeting held today i.e 17th August, 2018, inter alia, considered and approved raising of funds for the Company by way of issue of securities to the existing equity shareholders of the Company on a rights basis aggregating up to Rs. 60 Crores ('Rights issue'),in accordance with the SEBI (Issue of Capital and Disclosure Requirement)Regulations, 2009 and the Companies Act, 2013, as amended and all other applicable laws, subject to such Statutory and regulatory approvals as may be applicable in this regard.
The Board of Directors considered and approved Raising of funds by the Company through unsecured loans aggregating upto Rs. 50 Crores, with an option to convert into equity shares of the Company in accordance with the provisions of Section 62(3), 180 (1)(c) and other applicable provisions, if any, of the Companies Act, 2013.
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