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The board of Shiv-Vani Oil & Gas Exploration Services on Monday approved a proposal by ICICI Bank to subscribe to the exploration and production company’s equity shares on private placement basis. The board also approved conversion of the overdue interest into equity shares of three more lenders, in accordance with the CDR scheme. Shares of Shiv-Vani Oil edged down 3.85 per cent at ₹9.25 on the BSE.
S Kumars Nationwide has informed the exchanges that a scheme for restructuring of its debts by banks and financial institutions has been filed with the High Court of Judicature at Bombay on April 8. The Scheme incorporates the arrangement made by the company for raising funds to repay its debts. The Scheme aims at restructuring the company’s debts and does not affect the rights of the equity shareholders in any way, except positively. The company is pursuing implementation of the Scheme in order to guide it out of provisional liquidation. Shares of S Kumars Nationwide slumped 4.17 per cent at ₹3.45 on the NSE.
The board of directors of RTS Power Corporation has approved the issue one crore 9 per cent non-cumulative redeemable preference shares of ₹10 each on private placement basis to the promoter group. The decision is subject to shareholders’ approval. Shares of RTS Power closed at ₹25.40, down 1.17 per cent, on the BSE.
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