Held on 28 February 2018
The Board of Gallantt Metal at its meeting held on 28 February 2018 has approved the following business -The Board has approved to acquire entire shareholding of GL Steel and Power with an investment proposal in equity shares of GL Steel and Power up to an amount not exceeding Rs 1 crore so as to make GL Steel and Power as a wholly owned subsidiary of the company.
The Board approved to grant a loan to GL Steel and Power for Rs 10 crore in one or more trenches which together with the existing loan given, guarantee provided and investment made will not exceed 60% of the paid up capital, reserve and securities premium account.
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