Silicon Valley Infotech Ltd to raise funds for OTS

The Board of Directors of Silicon Valley Infotech Limited have approved the OTS proposal with REC Ltd with all terms and conditions as proposed by REC Ltd for final settlement.

Further for execution of the same the Board authorised Shri Santosh Kumar Jain (DIN: 00174235), Managing Director of the Company to do all the relevant acts and to sign all the documents/papers and to handover the post dated cheques to REC Ltd officials and to do all the acts related to OTS as and when necessary.

The Board also discussed about raising of resources for OTS payment and working capital needs of the Company and Shri Santosh Kumar Jain (DIN: 00174235), Managing Director of the Company was authorised to discuss with merchant bankers and advisors and present the proposal before the Board for discussions.

Source : Equity Bulls

Keywords

SiliconValleyInfotech OTS DebtSettlement REC