Held on 19 December 2017
The Board of Garden Silk Mills at its meeting on 19 December 2017 approved that as per the arrangement made with the lenders of the Company and subject to all approvals as may be necessary, the Promoters / Promoter Group Companies have agreed to pledge 51% of paid up equity share capital of the Company (i.e. 2,14,62,087 equity shares of Rs.10/- each) in favour of the 'Security Trustee' i.e. IDBI Trusteeship Services as appointed by the lenders. The pledgor shall create Security Interest by way of pledge in favour of the Security Trustee appointed by the lenders.Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content