IRB INFRASTRUCTURE DEVELOPERS LTD. - Outcome of Board Meeting

IRB Infrastructure Developers Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 05, 2014, has:<br/><br/>1. Considered various fund raising options and approved the enabling special resolution for the purpose of further issue of securities for an amount not exceeding Rs. 1,500 Crores subject to the approval of the Shareholders of the Company and all the requisite approvals as may be required from regulatory authorities and in accordance with the provisions of the applicable laws.<br/><br/>2. Also considered and approved enabling special resolution for increase in borrowing powers of the Company pursuant to section 180(1 )(c) of the Companies Act, 2013.<br/><br/>Accordingly, the Board of Directors of the Company has approved Postal Ballot to be conducted in accordance with the provisions of Section 110 of the Companies Act, 2013 read with the Companies (Management and Administration), Rules, 2014 for above mentioned special resolutions for approval of the Members of the Company.