PATEL ENGINEERING LTD. - Outcome of Board Meeting

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23 Jul 2014
Patel Engineering Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 23, 2014, has proposed to seek approval of the members of the Company through Postal Ballot pursuant to the provisions of Section 110 of the Companies Act, 2013 read with the Companies (Management and Administration), Rules, 2014 for the following:<br/><br/>1. Giving Loans/ Guarantees or providing securities for and on behalf of any Person or Body Corporate and/or making investments in such Body Corporate as per the terms of the provisions of Section 186 of the Companies Act, 2013;<br/><br/>2. Increase in the Borrowing limits from Rs. 7,500 crores to Rs. 9,000 crores;<br/><br/>3. Creation of Charges / Mortgages on the movable and immovable properties of the Company, in respect of borrowings;<br/><br/>4. Further issuance of Securities not exceeding Rs. 1,000 crores.
View all announcements for PATEL ENGINEERING LTD.	Source: BSE India

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