Alok Industries Ltd has announced that the Board of Directors of the Company on April 02, 2012, have passed the following resolutions by Circulation pursuant to Section 289 of the Companies Act, 1956, subject to the consent or approval of members of the company to be obtained through postal ballot and concerned statutory authorities from time to time.
Issue of Equity shares of the Company and/or other securities through QIPs/ADRs/ GDRs/ FCCBs/ and or any other securities compulsorily convertible into equity shares or any combination of the forgoing upto US$ 150mn; and
Increase in the Authorised Equity Share Capital from Rs.10bn to Rs.15bn and consequent alteration in the Capital Clause of the Memorandum and Articles Of Association of the Company.
The Board of Directors of the company have also through circular resolution approved the Postal Ballot Notice to be sent to the members of the Company in this regard.