Varun Ind board approves for Corporate Debt Restructuring

Varun Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on December 31, 2012, has transacted the following business:1. The Board considered and accepted the approval of Corporate Debt Restructuring (CDR) proposal of the Company by Corporate Debt Restructuring (CDR) cell vide their Letter dated December 28, 2012.2. As the conditions stipulated in the CDR package the Board has approved the allotment of appropriate number of Equity Shares to Promoters of the Company, on preferential basis, so that Rs. 36 Crores is brought in by the Promoters of the Company, the allotment of Equity Shares to promoters on preferential basis will be subject to SEBI ICDR Regulation.Source : BSE

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