Khaitan Electricals has informed that at Board of Directors of the Company meeting held on August 13, 2015, the decisions were taken by board subject to approval of members in the forthcoming Annual General Meeting that the board has proposed to issue Redeemable Preference Shares on preferential allotment basis to Promoter(s) and Promoter Group Companies and taking note of erosion of more than 50% of the net worth of the Company and making reference to Board for Industrial and Financial Reconstruction.
The above information is a part of company’s filings submitted to BSE.
