Chowgule
Steamships’ wholly owned overseas subsidiary – Chowgule Steamships
Overseas (CSOL), is implementing a plan for expansion of its fleet
through acquisition of new built vessel. In order to meet the funding
requirements of CSOL for the said acquisition, the company has
subscribed to the convertible redeemable shares (CRS) of CSOL only for
an amount of $5.50 million. The balance fund requirements of CSOL of $9
million were meet through subscription for CRS received from another
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