SAL Steel Seeks Ratification For Rs 228 Crore Lawrence Merchants Loan

Board approved postal ballot for 5 material RPTs: ratify Rs228.67Cr Lawrence loan, Rs174.62Cr Sree deals; seek 1-yr caps of Rs1050Cr Sree, Rs200Cr Lawrence, Rs150Cr Elite. Vote 20Oct-18Nov. First disclosure of replacement funding-supply mix after legacy channel ended; shows reliance on holding company and affiliates for loans, iron-ore and guarantees to fund upkeep and modernisation. Past loans already drawn now put for post-facto approval; future caps far exceed shrunken scale. Needs independent shareholder nod by 18Nov; pricing, interest and repayment terms undisclosed.