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HINDUSTAN COPPER LTD. - Outcome of Board Meeting
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30 May 2016
Hindustan Copper Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 30, 2016 from 12:00 noon to 3:45 pm inter alia has considered and approved the following:&lt;BR&gt;&lt;BR&gt;1. The Board has recommended seeking shareholders&apos; approval through special resolution to offer, issue and allot, in one or more tranches, secured or unsecured nonconvertible Debentures/Bonds on private placement basis within the overall borrowing limit of Rs. 800 crore earlier approved by the shareholders.&lt;BR&gt;&lt;BR&gt;2. The Board accorded its approval to form a Joint Venture Company with Chhattisgarh Mineral Development Corporation limited (CMDC),a Chhattisgarh State Public Sector Undertaking, for exploration, mining and beneficiation of copper and its associated minerals in the state of Chhattisgarh. The Board authorized CMD, HCL to take all such actions as may be necessary for successfully clinching the Joint Venture with CMDC.&lt;BR&gt;The requisite details of the Joint Venture will be submitted as and when agreement with CMDC is executed.
View all announcements for HINDUSTAN COPPER LTD. Source: BSE India