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15-Jan2019

Esaar initiates business discussion for investment in Mansukh Commodity Futures

Esaar (India) has initiated business discussion for investment in securities of Mansukh Commodity Futures by way of subscribing into Non-Convertible Redeemable Preference Share of the company up to a sum of Rs 7.50 crore.

So far, the discussions between the management of the both Companies were not conclusive. Whereas the final terms and conditions of the investment proposal was placed before current meeting of the Board of the Company along a Private Placement Offer cum Application Letter (PAS - 4), the Board has recorded its assent to make an investment which shall amount to 82.4176% of Post Allotment Paid Up Share capital of Mansukh Commodity Futures. Further, the said investment is within the prescribed limit of Section 186 of the Companies Act, 2013.


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