Hindustan Construction EGM approves increase in borrowing powers

Hindustan Construction Company Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on October 19, 2006, inter alia, have accorded to the following:

1. Increasing the borrowing limits of the Company upto an amount not exceeding Rs 10,000 Crore in the aggregate in accordance with the provisions of Sec.293(1)(d) of the Companies Act, 1956.

2. Increasing the limits for creation of mortgages and / or charges over the properties of the Company upto an amount not exceeding Rs 10,000 Crore in the aggregate in accordance with the provisions of Sec 293(1)(a) of the Companies Act, 1956.

3. Authorizing the Company in accordance with the provisions of Sec 163 of the Companies Act, 1956, to keep its Register of Members, Index of Members, Register and Index of Debentureholders, Returns of Allotment and Annual Returns at the offices of TSR Darashaw Ltd, Mumbai, the new Registrar & Share Transfer Agent of the Company.

Source : Equity Bulls

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