Sterlite Industries has called an extraordinary general meeting on June 12 to consider a hike in authorised capital and seek shareholder permission under Section 372 of the Companies Act for its investment in Indal. Since it seeks to acquire more than 30 per cent of Indal, Sterlite needs permission under the Companies Act.
Sterlite would also be seeking shareholder nod for issuing optionally convertible preference shares (OCPS).
