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MAHINDRA & MAHINDRA LTD. - Updates on ensuing Board Meeting on May 30, 2016
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25 May 2016
With reference to the earlier letter dated May 04, 2016 informing about May 30, 2016 being the date of the Board Meeting for inter alia considering and approving the audited financial results of the Company for the Financial Year ended March 31, 2016.&lt;BR&gt;&lt;BR&gt;Mahindra &amp; Mahindra Ltd has now informed BSE that at the said Board Meeting, the Board will also consider a proposal to pass an enabling Resolution, subject to Shareholders&apos; approval at the ensuing Annual General Meeting of the Company, inter alia, to raise funds by way of issuance of debt securities including but not limited to secured / unsecured redeemable Non-convertible Debentures and/or Commercial Papers under Private Placement basis for an aggregate amount not exceeding Rs. 5,000 crores.&lt;BR&gt;&lt;BR&gt;The Shareholders of the Company, at the last Annual General Meeting held on August 07, 2015, had approved issuance of securities including but not limited to secured/unsecured redeemable Non-convertible Debentures and/or Commercial Papers under Private Placement basis for an aggregate amount not exceeding Rs. 5,000 crores. The Company has till date not issued any securities pursuant to this approval. Since the approval of the Shareholders in case of offer or invitation for &lt;BR&gt;non-convertible debentures has a validity of one year in terms of Section 42 of the Companies Act, 2013 read with Rule 14 of the Companies (Prospectus and Allotment of Securities) Rules, 2014, it is proposed to seek fresh approval from Shareholders at the ensuing Annual General Meeting.
View all announcements for MAHINDRA & MAHINDRA LTD. Source: BSE India