At meeting held on 30 September 2015
SVOGL Oil Gas & Energy announced that the Board of Directors of the Company at its meeting held on 30 September 2015, inter alia, has taken the following decisions:1. Considered and Approved to increase Authorised Share Capital from Rs. 150 crore to Rs. 230 crore.
2. Considered and Approved Alteration of Capital Clause in Memorandum of Association and Article of Association.
3. Considered and Approved Conversion of Unsecured loan of promoters into Equity shares of the Company as per the CDR Scheme.
4. Considered and Approved Conversion of Outstanding overdue interest and instalments of Lenders into Equity Shares as per CDR Scheme.
5. Considered the proposal of Lenders for Strategic Debt Restructuring Scheme introduces by Reserve Bank of India vide circular dated 08 June 2015.
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