Apollo Tyres Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 11, 2015, inter alia, has approved the following:<BR><BR>1. Further expansion of the Truck & Bus radial tyre capacity at the Chennai plant from the currently planned 8900 tyres per day to 12000 tyres per day Involving capex of Rs. 12,000 million.<BR><BR>2. (i) In order to meet Capex requirements towards ongoing/ proposed expansions at Chennai and Kalamassery Plants, the Board approved authorization for raising of debt of Rs. 20,000 million by way of Rupee Term Loan/ Foreign Currency Term Loan/ ECBs/ Non-Convertible Debentures etc. from time to time.<BR><BR>(ii) Seeking authorisation of the Shareholders through postal ballot for Private placement of unsecured/ secured Non Convertible Debentures not exceeding Rs. 10000 millions within overall borrowing limits of the Company for aforesaid Capex requirements.<BR><BR>3. Change in status of Mr. Sunam Sarkar from Whole-time Director to Non Executive Non independent Director with immediate effect consequent to his deputation to wholly owned subsidiary at Singapore.<BR><BR>4. Appointment of General Bikram Singh (Retd.), former Chief of Army Staff (COAS) of the Indian Army as an Additional Director (Independent) of the Company with immediate effect.
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