Smilax Industries has informed that the Board of Directors of the Company at its meeting held on October 14, 2013, decided that in accordance with regulations of Chapter VII of the SEBI (ICDR) Regulations, 2009 and section 81(1A) of the Companies Act, 1956, and subject to the approval of shareholders, Stock Exchanges and other regulatory authorities if any, raise Rs 2,00,00,000 on preferential basis in order to meet the working capital requirements and proceed with the new objects.
The above information is a part of company’s filings submitted to BSE.
