Marg Constructions shareholders approve resolutions through Postal Ballot

Marg Constructions Ltd has announced that the members of the Company have passed the following Special Resolutions by way of Postal Ballot with requisite majority:

1. Under Section 372A (1)(b) of the Companies Act, 1956 to obtain approval for guarantee in connection with term loan to M/s. Marg Realities Ltd amounted to Rs 46.60 Crores exceeding the limits prescribed.

2. En-bloc approval of Rs 250 crores of Corporate Guarantee for one financial year and total limit of Rs 500 crores of corporate guarantee outstanding at any time.

Source : Equity Bulls

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