Uniproducts India obtains bridge loan from Citibank

Uniproducts India Ltd has announced that the Board of Directors of the Company at its meeting held on October 31, 2006, inter alia, has transacted the following:

1. Approved the Group Gratuity cum Life Assurance Scheme with LIC for the employees of the Company.

2. The Company has obtained the bridge loan of Rs 7 crores from Citibank vide their letter dated October 20, 2006 against the proposed right issue of the Company.

Source : Equity Bulls

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