Loads Limited approved loan worth Rs800bn to Hi-Tech Alloy

MG News | April 28, 2023 at 03:43 PM GMT+05:00

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April 28, 2023 (MLN): The Board of Directors (BoD) of Loads Limited on Friday approved a loan amounting to Rs800 billion in its associated company Hi-Tech Alloy Wheels Limited,

The board has also approved the sale of the company's plot and building situated at Plot No. 23, Sector 19, Korangi Industrial Area, Karachi, subject to the regulatory approvals and completion of applicable legal formalities.

This is subject to the approval of shareholders. and in accordance with the provisions of Section 199 of the Companies Act, 2017.

An Extraordinary General Meeting (EOGM) of the company in this regard is scheduled to be held on Tuesday, May 30, 2023, at 11:30 am at the Registered Office of the company.

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