Brief: Monnet Ispat and Energy approves conversion of loan of 1.5 bln rupees into shares

JSW Ispat Special Products

06/11/2015 09:21

Nov 6 (Reuters) - Monnet Ispat and Energy Ltd  MNET.NS : 
 * Approved conversion of loan of inr 1.5 billion into shares brought into co in 
   terms of decision of lenders 
 * Approved increase in existing authorized share capital of the company. 
 * Source text:Monnet Ispat & Energy Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 06, 2015, inter alia, has considered and approved the following businesses: 
 
1. Increase in existing Authorized Share Capital of the Company. 
 
2. Conversion of loan into Equity shares pursuant to SDR scheme. 
 
3. Conversion of loan of Rs.150 Crores into equity shares brought into the Company in terms of decision of the lenders as part of Corrective Action Plan. 
 
4. Draft notice of Extra Ordinary General Meeting (EGM) scheduled to be held on December 21, 2015. 
 
5. Appointment of Mr. Sanjay Grover & Associates, Practicing Company Secretary as Scrutinizer for conducting E-voting in a fair and transparent manner. 
 * Further company coverage  MNET.NS   
 
 
 
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