Marg Constructions AGM approves investment in Signa Infrastructure, IT / ITES companies

Marg Constructions Ltd has announced that the members at the 11th Annual General Meeting (AGM) of the Company held on September 30, 2006, inter alia, have approved the increase in borrowing power of the Company in accordance with Section 293(1)(d) of the Companies Act, 1956 to Rs 1000 Crores.

Approved investment in securities of Signa Infrastructure India Ltd, a Joint Venture between the Company and HUDCO upto an amount of Rs 400 Crores.

Approved investment in securities of the Companies engaged in IT and ITES sector upto an amount of Rs 250 Crores.

Approved investment in securities of the Companies engaged in Constructions and Infrastructure Sectors upto an amount of Rs 250 Crores.

Source : Equity Bulls

Keywords