The Board of Ortel Communications at its meeting held on 10 March 2018 has approved the following -
Issue of equity shares to promoters / promoter group entity for an amount not exceeding Rs 8.75 crore.
Issue of 9 percent cumulative non-convertible redeemable preference share for an amount not exceeding Rs 10 crore by way of private placement for a period of 5 years.
Acceptance of fresh inter corporate loan of Rs 8 crore at 9 percent per annum for a period of 5 years.
The Board also approved convening the EGM meeting of the company on 09 April 2018. – Business Standard