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DEWAN HOUSING FINANCE CORPORATION LTD. - Outcome of Board Meeting
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28 Jul 2014
Dewan Housing Finance Corporation Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 24, 2014, inter alia, has approved the following:&lt;br/&gt;&lt;br/&gt;1. Constitution of Risk Management Committee and its terms of reference.&lt;br/&gt;&lt;br/&gt;2. In view of the upgradation of DHFLs long term credit rating from AA+ to AAA, by Credit Analysis and Research Ltd. (CARE), which provides the Company with an opportunity for issuance of long term NCDs at competitive rates, and reduce its weighted average cost of borrowings, the Board has approved the Notice of the Postal Ballot for approval of members for further issuance of following types of Non-Convertible Debentures on Private Placement basis:&lt;br/&gt;&lt;br/&gt;a. Non- Convertible Secured Debentures amounting to Rs. 15,500 crore, in addition to approval of members received by way of Special Resolution, as per section 42 of the Companies Act, 2013, read with respective rules, through Postal Ballot on June 12, 2014 for issuance of Non-Convertible Secured Debentures on Private Placement basis amounting to Rs. 4,500 crore.&lt;br/&gt;&lt;br/&gt;b. Non- Convertible Subordinated Unsecured Debentures, amounting to Rs. 500 crore, in addition to approval of members received by way of Special Resolution, as per section 42 of the Companies Act, 2013, read with respective rules, through Postal Ballot on June 12, 2014 for issuance of Non-Convertible Subordinated Unsecured Debentures on Private Placement basis amounting to Rs. 500 crore.&lt;br/&gt;&lt;br/&gt;c. Non-Convertible Perpetual Unsecured Debentures, amounting to Rs. 300 crore, in addition to approval of members received, as per section 42 of the Companies Act, 2013, read with respective rules, through Postal Ballot on June 12, 2014 for issuance of Non-Convertible Perpetual Unsecured Debentures on Private Placement basis amounting to Rs. 200 crore.
View all announcements for DEWAN HOUSING FINANCE CORPORATION LTD. Source: BSE India