Sub: Outcome of Board meeting
This is to inform that the Board of Directors in its 432nd meeting held on 14.12.2017, has considered and approved the conversion of Rs 100 Crores, being Capital grant received from Government of India under BIFR proceedings, into 10,00,00,000 equity shares of Rs 10 each at par and allotted shares accordingly to President of India. The said receipt of capital grant of Rs 100 Crores and allotment of equity shares is made pursuant to BIFR order dated 08.01.2013, sanctioning the revival scheme of the Company.
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