Outcome of Board Meeting
Patel Engineering Ltd has informed BSE that the Board of Directors of the Company at its meeting held on June 29, 2016, inter alia, has approved the following transactions:- For conversion of Debt into Equity for not less than 51% of the post issue capital of the Company under the provisions of Strategic Debt Restructuring Scheme devised by the Reserve Bank of India (the RBI).... Board Meeting on June 29, 2016
Patel Engineering Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on June 29, 2016, inter alia, to consider and approve the following:- Conversion of Debt into Equity pursuant to Strategic Debt Restructuring Scheme devised by the Reserve Bank of India {the RBI);- For conducting the postal ballot for obtaining approval of shareholders for conversion of debt in to equity.... Updates
With reference to the earlier letter dated June 06, 2016 regarding Outcome of Joint Lender Forum (JLF) Meeting, Patel Engineering Ltd has informed BSE that the JLF has decided May 26, 2016 as 'reference date. Further, majority lenders have agreed that they shall approach their approving authorities for obtaining approval related to SDR.The Company shall keep the exchanges posted on the further development in this regard.
Lenders to take control of Patel Engineering under SDR scheme
As on 31 March, Patel Engineering had a standalone debt of Rs4,103.70 crore, according to data available on Capitaline Outcome of Joint Lender Forum (JLF) Meeting
Patel Engineering Ltd has informed BSE that the minutes of the meeting of Joint Lenders' Forum (JLF) held on May 26, 2016, as circulated to the Company by the lead Bank late evening on June 03, 2016, states that the Lenders have discussed and decided that SDR route should be opted for to preserve the value of the Company. Outcome of Board Meeting
Patel Engineering Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 30, 2016, has approved the following transactions:1. Re-appointment of Mr. Pravin Patel, Chairman of the Company as Whole time Director, subject to approval of members at the ensuing General Meeting.2. Appointment of Mr. C. K. Singh as an Additional Director and Whole time Director-Operations of the Company, subject to approval of members at the ensuing General Meeting;... Standalone Financial Results, Form A, Auditors Report for March 31, 2016
Patel Engineering Ltd has informed BSE about : 1. Standalone Financial Results for the period ended March 31, 20162. Standalone Form A for the period ended March 31, 20163. Standalone Auditors Report for the period ended March 31, 2016 Disclosures under Reg. 31(1) and 31(2) of SEBI (SAST) Regulations, 2011
Praham India LLP has submitted the disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 to BSE Patel Engineering surges as JV wins orders worth Rs 2,377 crore
The stock surged 16% to Rs 58 on the BSE on back of heavy volumes.