Investment27 Feb 2026, 06:02 pm
Alka India Ltd. to Convert Promoter's Loan into Equity Shares
AI Summary
Alka India Ltd. has entered into a loan agreement with its Non-Executive Director, Mr. Jatinbhai Ramanbhai Patel, for the conversion of his unsecured loan into equity shares, subject to approval. The loan, which was brought in by Mr. Patel in his capacity as a Successful Resolution Applicant, amounts to Rs. 6,75,00,000.00. The conversion will be done at a price of Rs. 15 per equity share, following the approval of shareholders in the Annual General Meeting.
Key Highlights
- Alka India Ltd. has entered into a loan agreement with its Non-Executive Director.
- The loan amount is Rs. 6,75,00,000.00, which was brought in by the director in his capacity as a Successful Resolution Applicant.
- The loan will be converted into equity shares at a price of Rs. 15 per share.
- The conversion is subject to the approval of shareholders in the Annual General Meeting.
- The transaction does not fall under related party transactions as per SEBI regulations.