<BR> <BR> At the 239th Board Meeting held this evening, Board of Directors approved the following:<BR> <BR> 1. To obtain 'in-principle' approval from the BSE in compliance of Regulation 28 of SEBI (LODR) Regulations, 2015 of 1,22,60,000 Equity Shares of Rs.10/- each to Promoters and their Associates by conversion of the Unsecured Loans received from them.<BR> <BR> 2. To issue 74,74,000 Redeemable Cumulative Preference Shares of Rs.100/- each on Private Placement Basis.<BR> <BR> 3. To constitute a Committee consisting of two Independent Directors, viz., Mr. B Narendran and Dr. RM Krishnan and the Managing Director, Mr. G Ramachandran to implement the above proposal including calling of Extraordinary General Meeting of the Shareholders and all other such things that are required for the purpose of issue of shares.<BR> <BR> <BR> 4. The proposals of issue of capital are subject to such approvals that are required under various statues.<BR>
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