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The Board of Gensol Engineering at its meeting held on 31 January 2023 has approved the following -
The Board has approved the financial assistance from Power Finance Corporation for 5000 electric 4 (four) wheelers for leasing to ride-hailing business and 1000 electric 3(Three) wheelers for leasing to cargo
delivery.
The Board has approved the conversion of financial assistance into equity at Event of Default, under section 62(3) of the Companies Act, 2013.
The Board has approved the amendment in Article of Association of the Company, subject to the approval of members in general meeting.
The Board has approved the amendment in Memorandum of Association of the Company, subject to the approval of members in general meeting.
The Board has approved to issue Non-Convertible Debenture on Private Placement basis.
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