Jay Bharat Maruti Ltd. announced that the Board of Directors of the company in its meeting held on January 16, 2017 has considered and approved the issuance of Non-Convertible Debentures to the eligible investors through private placement in terms of Section 42 and 71 of the Companies Act 2013 of an aggregate amount of not exceeding INR 1,500 million, subject to taking of shareholders' approval through Postal Ballot process.