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TVS Finance plans to issue preference shares
CHENNAI: TVS Finance and Services Ltd. has convened an extraordinary general meeting of the shareholders on March 28 to approve a proposal to increase the authorised share capital of the company by suitably amending the memorandum of association. In a filing with the Bombay Stock Exchange, the company said the authorised capital would be increased from Rs. 74 crores to Rs. 115 crores. Further, shareholders' approval would be sought to issue 6 per cent non-cumulative non-convertible redeemable preference shares of Rs. 10 each for cash at par on a preferential basis on terms set by the board of directors.
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