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| Exchange Disseminated Time | Oriental Hotels Ltd has informed BSE that the members of the Company by the way of Postal Ballot have passed the following Ordinary Resolution, with requisite majority.
1. To borrow periodically from, including without limitation, any Banks and / or public financial institutions as defined under Section 4 of the Companies Act, 1956 and / or any foreign financial institution(s) and / or any entity / entities or authority / authorities and / or through suppliers credit securities instruments, such as floating rate notes, fixed rate notes, syndicated loans, debentures, commercial papers, short term loans or any other instruments etc. and / or through credit from official agencies and / or by way of commercial borrowings from the private sector window of multilateral financial institutions, either in rupees or in such other foreign currencies as may be permitted by law from time to time, as may be deemed appropriate by the Board for an aggregate amount not exceeding Rs. 600 crores (Rupees six hundred crores only), notwithstanding that money so borrowed together with the monies already borrowed by the Company, if any (apart from temporary loans obtained form the Company's bankers in the ordinary course of business) may exceed the aggregate of the paid-up capital of the Company and its free reserves, that is to say, reserves not set apart for any specific purpose and that the Board be and is hereby empowered and authorised to arrange and fix the terms and conditions of all such monies to be borrowed, from time to time, as to interest, repayment, security or otherwise as it may deem fit, subject to necessary provisions and approvals.
2. To create security by way of mortgage and / or charge or otherwise in respect of all or any part of the Company's undertaking(s)/ immovable properties and fixed assets including land, buildings, plant and machineries, wheresoever situated, both present and future and a floating charge over the whole or any part of the undertaking(s) of the Company including movable/ current assets to secure the repayment of loan(s) (in foreign currency and/ or rupee currency) and securities (comprising fully/ partly convertible debentures and / or non-convertible debentures with or without detachable or non-detachable warrants and / or secured premium notes and / or floating rates notes /bonds or other debt instruments) borrowed or issued by the Company from time to time, to or in favour of banks, trustees and / or financial institutions/ other entities in such manner and on such terms and conditions as the Board may think fit, together with interest at the respective agreed rates, additional interest, commitment charges, premia on pre-payment or on redemption, costs, charges and expenses and all other monies payable by the Company in terms of loan agreement(s) / other agreement(s), debenture trust deed, security or other document(s) entered into/ to be entered into by the Company and the lender(s) in respect of the said borrowing(s) up to an aggregate amount not exceeding Rs. 600 crores (Rupees six hundred crores only), subject to necessary provisions and approvals. (For more details kindly refer Corporate Announcements on www.bseindia.com). |
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