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The board of Gangotri Textiles has appointed A S Ravichandran
and Ullash Sanghavi as additional directors.
The board has approved the allotment of 70,0O,000, 6.5 % redeemable cumulative preference shares of Rs 100 each to State Bank of India towards conversion of loan outstanding in terms of the a corporate debt restructuring scheme.
The board has approved the allotment of 67,84,261 equity shares of Rs 5 each at Rs 7.37 per share to State Bank of India, towards conversion of loan outstanding.
The board has approved the allotment of 97,69,335 equity shares of Rs 5 each at Rs 7.37 per share to Anita Tibrewal towards conversion of un-secured loan.
This was approved at the board meeting held on 07 May 2009.
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