GTV Engineering Approves Loan, Preferential Issue of Equity Shares, and Acquisition of Chirchind Hydro Power Private Limited Shares

GTV Engineering Ltd. has approved a proposal to give loans, guarantees, provide security, and/or make investments exceeding the prescribed limits under Section 186 of the Companies Act, 2013. The Board also approved a preferential issue of equity shares (share swap) worth up to Rs. 100 crore, and the acquisition of 1,12,56,250 equity shares of Chirchind Hydro Power Private Limited (CHPPL) through a share swap from GTV Infrastructures Private Limited. This acquisition will make CHPPL a subsidiary of GTV Engineering Ltd., and Shivalik Energy Private Limited a step-down subsidiary. The Board also approved the execution of a Share Swap Agreement between M/s GTV Engineering Limited and M/s GTV Infrastructures Private Limited and the related party transaction(s) in connection with the proposed acquisition and preferential issue.