SWELECT ENERGY SYSTEMS LIMITED - Outcome of Board Meeting

Swelect Energy Systems Limited - Outcome of Board Meeting

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06 Feb 2016
Swelect Energy Systems Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 05, 2016, has transacted the following:<BR><BR>1. The Board of Directors considered and approved Investment upto Rs. 2 crores by way of subscription to the Share capital of SWELECT Solar Energy Private Limited.<BR><BR>2. The Board also considered and approved setting up of a subsidiary Company in US by name SWELECT INC to expand its Solar business operations abroad. The Investment shall be upto 850,000 US$ in the form of Share capital, Working Capital loan and Standby Letter of Credit (SBLC).<BR><BR>3. The Wholly Owned Subsidiary Company SWELECT ENERGY SYSTEMS PTE LIMITED has set up a subsidiary Company in Singapore in the name SWELECT ENERGY SYSTEMS (ASIA PACIFIC) PTE LIMITED, with 51% stake in the Company.
View all announcements for Swelect Energy Systems Limited	Source: BSE India

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