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| Exchange Disseminated Time | Viceroy Hotels Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on March 10, 2011, inter alia, to consider the following items of business :
1. To take on record of the Results and Minutes of the Postal Ballot conducted on February 24, 2011 to hive-off the 'Bangalore Project Division' and enhancing borrowing powers of the Board.
2. To fix the 'Transaction Date' for determining book value of Assets and Liabilities of the 'Bangalore Project Division' being transferred under Slump Sale basis.
3. To make investment in Share Capital of Wholly Owned Subsidiary namely 'Viceroy Bangalore Hotels Private Limited'.
4. To approve Draft Slump Sale Agreement called 'Business Transfer Agreement' (BTA) between the Company and its Wholly Owned Subsidiary namely 'Viceroy Bangalore Hotels Private Limited'. |
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