Outcome of Board Meeting

Shiv-Vani Oil & Gas Exploration Services Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 30, 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 installments 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 June 08, 2015.

Source : BSE - >www.bseindia.com

Published on October 01, 2015


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