The company informed the BSE that its board, which met on Wednesday, had also decided to increase authorised capital from Rs 13.5 crore to Rs 14.5 crore and to raise funds not exceeding Rs 60 crore through issuance of securities including equity shares or equity linked securities.
In this regard, the company would be convening an extraordinary general meeting on December 24, 2014, to obtain shareholders' consent. It had appointed Ashish Kumar Gaggar, a practicing company secretary, as scrutiniser to conduct voting.
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