Monnet Ispat & Energy has informed that the Board of Directors, in its meeting to be held on November 02, 2015, proposes to consider the matter of raising equity through conversion of loan into equity shares to lenders under Strategic Debt Restructuring (SDR) circular of RBI and to convert the unsecured loan brought in by promoters / non-promoters as per the decision of Joint Lenders Forum (JLF) of the Company through preferential route in terms of SEBI Guidelines and if approved, to pass enabling resolutions such as obtaining the approval of shareholders for increase of authorized capital, to convert loan into equity shares, formation of an authorization to Special Committee and such other allied matters.
The above information is a part of company’s filings submitted to BSE.
