PNN
Mumbai (Maharashtra) [India], January 29: Banganga Paper Industries Limited (BSE - 512025), (Formerly known as Inertia steel Limited), has announced the approval of several key proposals by its Board of Directors during its recent board meeting, aimed at supporting the company's growth and operational flexibility.
The Board has approved borrowing exceeding the prescribed limits under the Companies Act, 2013, enabling the company to access additional funds for expansion and operations. This approval also includes the creation of a charge or mortgage on the company's assets to secure such borrowings. These measures are subject to shareholder approval in the upcoming Extraordinary General Meeting.
Additionally, Extraordinary General Meeting has been scheduled to be held on February 21, 2025.
About Banganga Paper Industries Limited
Incorporated on October 17, 2013, Banganga Paper Industries Limited is one of the leading manufacturers and suppliers of a diverse range of craft paper. The company's wholly owned subsidiary, Banganga Paper Mills, is located in Dindori, Nasik, and operates a state-of-the-art facility spread across more than 10,000 square meters. With an installed production capacity of over 100 metric tonnes per day, the facility produces various types of corrugated papers with different GSM ranges, which are further used in the manufacturing of paper bags, paper cones, boards, and corrugated boxes. Additionally, it manufactures a wide range of craft paper, also available in various GSM ranges.
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