TCFC Finance to consider increase in authorised share capital, borrowing powers

TCFC Finance Ltd has announced that the Board of Directors of the Company at its meeting held on July 12, 2007, inter alia, has considered and recommended the following business to the shareholders for their approval at the forthcoming Annual General Meeting of the Company:

1. Increase in Authorised Capital of the Company from existing Rs 10.85 crores to Rs 25 crores.

2. Authority to the Board of Directors for increase in Borrowing powers of the Company upto Rs 200 crores in terms of Section 293(1)(d) of the Companies Act, 1956.

3. Authority to Board of Directors for increasing Investment powers of the Company upto Rs 200 crores in terms of Section 372A of the Companies Act, 1956.

4. Recommend appointment of M/s. MGB & Co., Chartered Accountants as Statutory Auditors of the Company.

Source : Equity Bulls

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