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Preferential Issue of shares Inter alia, considered, deliberated upon and approved the following: Approval of Proposal for Fund Raising for expansion of business operation: The Board of Directors of the Company has, subject to the receipt of necessary approvals, including approval of shareholders and other regulatory/statutory approvals as may be applicable, approved a proposal for raising of funds aggregating up to %51,00,00,000/- (Rupees Fifty-One Crores only) for expansion of the business operations of the Company, by way of the following: a. Preferential Allotment of securities up to an aggregate amount of %35,00,00,000/- (Rupees Thirty-Five Crores only); b. Debt Finance / Borrowings up to an aggregate amount of %10,00,00,000/- (Rupees Ten Crores only); and c. Internal Accruals aggregating to %6,00,00,000/- (Rupees Six Crores only)
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