The members of Jolly Plastic Industries have approved to increase the authorised share capital of the company from Rs 7 crore to Rs 12 crore.
Further, the members have approved the issue of upto 20,00,000 compulsory redeemable preference shares of Rs 10 each for an aggregate amount not exceeding Rs 2 crore from time to time to various group companies, promoters, banks, financial institutions, bodies corporate, foreign nationals and/ or other entities and/ or other person(s) whether such entities or persons are members of the company, or not by way of private placements or preferential allotment or in any other way, in one or more trenches as may be decided by the board.
This was approved at the extraordinary general meeting held on 07 August 2012.