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Ashirwad Steels & Industries to increase authorised capital

The members of Ashirwad Steels & Industries have approved to increase authorised capital of the company from Rs 8,00,00,000 divided into 80,00,000 equity shares of Rs 10 each to Rs 12,50,00,000 divided into 1,25,00,000 equity shares of Rs 10 each.

The members have approved the allotment of 45,00,000 wquity shares on a preferential basis to the loan creditors belonging to the non promoter group at a price of Rs 40 each.

The members have approved to borrow money from time to time upto a maximum limit of Rs 100 crore.

This was approved at the extraordinary general meeting held on 29 May 2009.

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