Jet Airways Seeks Shareholder Nod To Convert Loans Into Equity
Tuesday, January 29, 2019 IST
Jet Airways India Ltd. is seeking shareholder nod for allowing banks and financial institutions to have a say in the operations of the airline by converting loans into shares.
The airline is seeking shareholder approval through a special resolution to increase its authorised share capital to Rs 2,200 crore from Rs 200 crore, according to its stock exchange filing. The move will give it more room to issue fresh shares to lenders.
The company is seeking approval from shareholders to increase the limit of authorised share capital from:
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