At meeting held on 12 February 2021
The Board of Sterling Tools at its meeting held on 12 February 2021 has transacted the following:Approved the proposal for investment of Rs 10 crore in one or more tranches, in the shares or optional convertible debentures or in both of Sterling Gtake E-Mobility, a subsidiary company.
Further, the fund infusion by the Chinese partner Jiangsu Gtake Electric Company (GTAKE) in Sterling Gtake E-mobility is not received yet because of the changed FDI guidelines issued by Government of India requiring approval of DPIIT, New Delhi, for which an application has already been moved on by the Sterling Gtake E-mobility.
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