Held on 23 March 2017
Karnavati Finance announced that the Board of Directors of the Company at its meeting held on 23 March 2017 has approved -1). Increase in Authorized Share Capital and consequent alteration in Clause V of the Memorandum of Association of the Company.
2). Issue of Equity Shares of the Company on preferential basis as per SEBI (ICDR) Regulations, 2009 as amended from time to time to Promoter & Promoters' Group and other identified entities. The details of Preferential Issue in terms of Regulation 30 of SEBI (LODR) are attached herewith as an Annexure 1.
3). Migration of listing of Equity Shares of the Company from the SME Platform of BSE to Main Board of the BSE.
In this regards, the approval of the Shareholders of the Company will be proposed through Postal Ballot.
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