The board of Jaiprakash Power Ventures on Friday approved a proposal to alter its MoA to increase its authorised share capital to ₹20,050 crore from ₹10,050 crore, mainly to convert the debt of lenders into equity (by cumulative compulsory convertible preference shares up to ₹4,000 crore). The board also approved an issue of 35.20 crore shares on preferential basis to unsecured creditors. The lenders include ICICI Bank, IDBI Bank, PNB, Central Bank, SBI, UBI and Canara Bank.