Silicon Valley Infotech has informed that in the meeting held on 21st Dec 2022, the Board of Directors approved the OTS proposal with REC with all terms and conditions as proposed by REC for final settlement. Further for execution of the same the Board authorised Santosh Kumar Jain (DIN: 00174235), Managing Director of the Company to do all the relevant acts and to sign all the documents/papers and to handover the post dated cheques to REC officials and to do all the acts related to OTS as and when necessary. The Board also discussed about raising of resources for OTS payment and working capital needs of the Company and Santosh Kumar Jain (DIN: 00174235), Managing Director of the Company was authorised to discuss with merchant bankers and advisors and present the proposal before the Board for discussions.
The above information is a part of company’s filings submitted to BSE.
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