GTV Engineering Ltd Approves Preferential Issue of Equity Shares and Loans Exceeding Prescribed Limits
GTV Engineering Ltd announced that its Board of Directors approved the preferential issue of equity shares worth up to Rs. 100 crore and a loan proposal exceeding the prescribed limits under Section 186 of the Companies Act, 2013. The equity shares will be issued to GTV Infrastructures Private Limited in consideration for acquiring 35.31% of Chirchind Hydro Power Private Limited's paid-up equity share capital. The acquisition and preferential issue are subject to shareholder approval and other regulatory/statutory approvals. GTV Engineering Ltd also approved the execution of a Share Swap Agreement with GTV Infrastructures Private Limited and the appointment of Central Depository Service Limited as the agency for providing Remote e-voting services to its members/shareholders.
Key Highlights
- GTV Engineering Ltd approved the preferential issue of equity shares worth up to Rs. 100 crore
- The company also approved a loan proposal exceeding the prescribed limits under Section 186 of the Companies Act, 2013
- The equity shares will be issued to GTV Infrastructures Private Limited in consideration for acquiring 35.31% of Chirchind Hydro Power Private Limited's paid-up equity share capital
- The acquisition and preferential issue are subject to shareholder approval and other regulatory/statutory approvals
- GTV Engineering Ltd also approved the execution of a Share Swap Agreement with GTV Infrastructures Private Limited and the appointment of Central Depository Service Limited as the agency for providing Remote e-voting services to its members/shareholders