Government Guarantee
| Updated at | March 2010 |
Guarantee by the Governor of Welfare State to IDBI Bank Ltd. for payment of the value of the debentures ofDoren Co. Ltd.
... ... ...
Whereas the Rehabilitation Scheme for Doren Co. Ltd. (hereinafter called the company) submitted inter alia by the Government of Welfare State was accepted by the Hon''ble High Court.
And whereas in pursuance of the Rehabilitation Scheme dues of Rs. 2 crores are to be paid by the company to the IDBI Bank Ltd. (hereinafter called the bank) by issue of debentures to the bank for the amount carrying 12% interest per annum.
And whereas these debentures will be convertible into equity capital as soon as the first dividend is declared by the company.
And...
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