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| Exchange Disseminated Time | Ortel Communications Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 31, 2015, inter alia, has discussed and approved the following items along with other agenda items:
1. Renewal of existing overdraft facilities of Rs. 10 Crores and Bank guarantee facility with existing limit of Rs. 3.00 Crs with a sub limit of Rs. 1.00 Crs for inland LC (DP/DA) facility with Karnataka Bank Limited, Bhubaneswar.
2. Availing finance lease of USD 500,000 (in Equivalent INR) from CISCO Systems Capital India Private Ltd to part finance Capex.
3. Availing unsecured loan of upto Rs.100 Million from M/s. Odisha Infra-tech Private Limited ("OIPL"), of 60 months repayment period including 12 months moratorium and having right to prepay with an interest rate of 14.25% p.a for part finance of capital expenditure.
4. Appointing Citigate Dewe Rogerson Communications Pvt Ltd (Citigate), Mumbai as IR agency for various investor relationship activities on behalf of the Company.
5. Noting resignation of Mr. Shantanu Yeswant Nalavadi, Nominee Director of NSR-PE Mauritius, LLC in terms of the termination agreement and subsequent disclosure in the Prospectus of initial public offer (IPO). |
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