Home / Knowledge / News / Textiles / Mumbai-based textile company signs deal with Asia Bridge Fund
Mumbai-based textile company signs deal with Asia Bridge Fund
01
Feb '10
Alok Industries Ltd has informed that the Board of Directors of the Company at its meeting held on January 29, 2010, inter alia, has considered and approved the following:

1. Issue of further shares / convertible instruments upto an amount of Rs. 460 crores;

2. Increase in Authorised Capital from Rs. 650 crores to Rs. 900 crores;

3. Shifting of Registered Office of the Company from Mumbai to Silvassa;

4. Appointment of M/s. Deloitte Haskins & Sells as joint Statutory Auditors for the financial year 2010-11.

5. Consequent changes in the Capital and Registered Office Clauses of Memorandum and Articles of Association of the Company;

6. Increase in Borrowing Power from Rs. 7500 to Rs. 9000 crores as per section 293(1)(d) of the Companies Act, 1956;

7. To create charge on the assets of the Company as security for the enhanced borrowings as per section 293(1)(a) of the Companies Act, 1956;

8. To authorise Company Secretary to seek members' approval by way of postal ballot or to call for a general meeting for above proposals;

9. The new garment Unit at the New City of Bombay Mfg. Mills Ltd., the Company's joint venture project with National Textile Corporation has been inaugurated;

10. The Company has signed a private equity deal for Rs. 45 crores with Asiabridge Fund I, LLC for its subsidiary Company Alok H&A Ltd. which is engaged in the 'Cash & Carry' business model for apparel and home textile across India;

11. Work on the real estate investments made by the Company (through subsidiary Companies), viz. Peninsula Business Park (Commercial), Ashford Centre (Commercial) and Ashford Apex (Nahur Residential) is progressing satisfactorily. In line with the Company's stated objective of exiting the real estate business, one floor in Peninsula Business Park has already been sold.

Alok Industries Ltd


Must ReadView All

Courtesy: American Silk Mills

Textiles | On 18th Oct 2017

Sutlej Textiles adds American Silk Mills to its portfolio

Sutlej Textiles and Industries Ltd (STIL) has announced the...

Arvind Limited executive directors Punit Lalbhai (left) and Kulin Lalbhai explaining the project to Gujarat chief minister Vijay Rupani. Courtesy: Arvind Ltd

Apparel/Garments | On 18th Oct 2017

Arvind to set up mega apparel facility in Gujarat

Arvind Limited, one of India’s largest textile to retail...

Cotton stocks accumulating everywhere outside of China

Textiles | On 18th Oct 2017

Cotton stocks accumulating everywhere outside of China

Global cotton stocks outside of China are expected to rise by nearly...

Interviews View All

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

October 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.3%
No
13.6%
Skip
9.1%

Total Votes: 66

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
60.6%
No
28.8%
Skip
10.6%

Total Votes: 66

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
84.8%
No
10.6%
Skip
4.5%

Total Votes: 66

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
74.2%
No
12.1%
Skip
13.6%

Total Votes: 66


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search