India’s Valecha board will meet on Tuesday to consider debt issue

By Sarah Lizee

Olympia, Wash., Feb. 14 – Valecha Engineering Ltd. informed the Bombay Stock Exchange that its board of directors adjourned its Thursday meeting to consider an issue of 0% convertible debentures, nonconvertible debentures or redeemable preference shares.

The board is now scheduled to meet on Tuesday.

The meeting was adjourned due to lack of quorum, the company said.

As previously reported, the proposed securities would be issued via private placement.

Valecha is a Mumbai, India, infrastructure engineering and contracting company.

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