Investment2 April 2026 at 02:34 pm
Satani Bearings Ltd: Proposed Authorized Capital Increase, Rights Issue, and Other Key Decisions
AI Summary
Satani Bearings Ltd has announced several key decisions during its board meeting on 2nd April, 2026. These include an increase in authorized capital, a proposal for a rights issue, empowering the board to create charges and mortgages, increasing borrowing powers, enhancing investment limits, and the appointment of a new Company Secretary. The company also plans to incorporate a wholly owned subsidiary in the United Arab Emirates and adopt a new set of Memorandum and Association.
Key Highlights
- Proposed increase in authorized capital from Rs. 20,00,00,000 to Rs. 35,00,00,000
- Fund raising through rights issue of equity shares up to Rs. 50 Crore
- Empowering the board to create charges, mortgages, hypothecation on company's properties up to Rs. 500 Crores
- Increase in borrowing powers under Section 180(1) (c) of the Companies Act,2013 up to Rs. 500 Crores
- Enhancement of the limits under Section 186 of the Companies Act, 2013 up to INR 500 Crores
- Appointment of Ms. Niyati Yogesh Lad as Company Secretary & Compliance Officer
- Planning to incorporate a Wholly Owned Subsidiary in United Arab Emirates
- Adoption of a new set of Memorandum of Association
DECANBRGIndustrial Products
DECCAN BEARINGS LTD.Price Impact