Board of Surat Textile Mills agrees to infuse Rs 30 crore in Garden Silk Mills

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Capital Market
Last Updated : Dec 13 2016 | 12:01 AM IST

At meeting held on 24 October 2016

Surat Textile Mills announced that the Board of Directors of the Company at its meeting held on 24 October 2016 approved the proposal for investment of Rs 30 crore in convertible securities / warrants to be issued by the Garden Silk Mills, a group company.

The Board approved the proposal and agreed to infuse the funds of Rs 30 crore in Garden Silk Mills to support the debt rework scheme being appraised by the consortium member banks in Garden Silk Mills and to enhance its long term resources.

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First Published: Dec 12 2016 | 12:12 PM IST

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