Corporate News 22-Apr-08
Chemplast Sanmar to increase borrowing powers
To Rs 2,000 crore
The board of Chemplast Sanmar has approved to increase in borrowing powers of the company from Rs 1,000 crore to Rs 2,000 crore in excess of the paid up share capital and free reserves of the company and providing a deposit or letter of credit upto US $ 100 million to TCI Sanmar Chemicals LLC (TCI) who would be supplying VCM (a critical raw material) to the company.
This was approved at the board meeting held on 22 April 2008.
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