INSUBCONTINENT EXCLUSIVE:
the extraordinary general meeting (EGM) on Thursday, the shareholders also approved alterations to the company's Articles of Association
and Memorandum of Association.According to a filing to the stock exchanges on Friday, Jet Airways said shareholders have approved five
proposals that were put up for voting at the EGM
Nearly 98 per cent of shareholders gave their nod for "conversion of loan into shares or convertible instruments or other securities", a
move that assumes significance amid the carrier looking to restructure debt as well as raise fresh funds.Increase in the authorised share
capital and consequent alteration to share capital clause of Memorandum of Association has been cleared
Shareholders gave their nod for alterations of the Articles of Association of the Company, 'Object Clause' and 'Liability Clause' of
Memorandum of Association of the company.On Thursday, Jet Airways founder promoter and Chairman Naresh Goyal did not attend the EGM and the
meeting was chaired by Whole-Time Director Gaurang Shetty
During the meeting, which had lasted for around 40 minutes, Deputy Chief Executive Officer Amit Agarwal told shareholders that the airline
has been talking to various investors for capital infusion.On February 14, Jet Airways' board approved a Bank-Led Provisional Resolution
Plan (BLPRP), whereby lenders would become the largest shareholders in the airline
Following approval from the shareholders, part of debt would be converted into 11.4 crore shares at a consideration of Re 1 apiece as per
Later, appropriate interim credit facilities by domestic lenders would be sanctioned to the airline, according to a regulatory filing made
