The Hindu Business Line : CCL Products gets shareholders' nod for FCCB issue

THE shareholders of CCL Products (India) Ltd, formerly known as Continental Coffee Ltd, have at the extraordinary general meeting held on Friday approved a resolution to raise funds to the tune of $20 million through issue of foreign currency convertible bonds (FCCBs) with a right to retain excess subscription to the tune of $2 million.

The EGM has also approved a proposal to enhance the borrowing powers of the board of directors to Rs 200 crore and authorised the board to create charge on the immovable and movable properties of the company to the extent of new borrowing limits of the board.

Further, they approved an increase in the authorised capital of the company to Rs 20 crore, the company informed the stock exchanges.

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