Held on 25 April 2017
Bombay Rayon Fashions announced that the Board of Directors of the Company at its meeting held on 25 April 2017 has approved the following -Issuance of equity shares upto 48,26,982 of face value of Rs. 10/- each on preferential basis in accordance with Chapter VII of SEBI (ICDR) Regulation, 2009, pursuant to conversion of Working Capital term loans (WCTL) and/or Funded Interest Term Loans (FITL) by the CDR package to the lenders who may not exercise their rights within the validity period of the resolution approved by shareholders of the Company at the Extra-ordinary General Meeting held on 09 May 2016.
Issuance of equity shares upto 126,655,304 on preferential basis, in accordance with Chapter VII of SEBI (ICDR) Regulations, 2009 and other applicable provisions of the Companies Act, 2013, representing 39.89% of the expanded share capital and such number of Optionally Convertible Debentures (OCDs) of face value Rs. 1000/- each not exceeding Rs. 410 crore to the Lenders under Scheme for Sustainable Structuring of Stressed Assets (S4A scheme).
Convening of Extra-ordinary General Meeting on 20 May 2017 for approving the interalia above mentioned matters.
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