Gujarat NRE Coke Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 24, 2014, inter alia, has decided as follows:

1. To seek authority from the shareholders under the provisions of Sections 180(1)(c), 180(1)(a) and 181 of the Companies Act 2013.

2. To issue 1,21,61,222 Equity Shares to ICICI Bank Ltd under Private Placement basis in accordance with the terms and conditions of letter of Approval dated March 22, 2014 as issued by Corporate Debt Restructuring Empowered Group and as per Section 42 and other provisions of Companies Act 2013 as well as Chapter VII of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 [ICDR Regulations] subject to the approval of shareholders. Continue reading Gujarat NRE Coke to issue shares to ICICI Bank under Private Placement for Debt Restructuring →