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| Exchange Disseminated Time | Hotel Leelaventure Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 13, 2013, inter alia, have considered and approved the following:
1. Fund Raising Plans
(a Approval for Issue of Equity Shares to a Promoter Group Company on Preferential Basis as per SEBI (ICDR) Regulations 2009
The Board has approved, subject to the consent of the Members at the ensuing Annual General Meeting scheduled to be held on September 20, 2013, allotment of equity shares on Preferential Basis to a Promoter Group Company for an aggregate value not exceeding Rs. 100 crores, including premium.
As per SEBI (ICDR) Regulations 2009, the relevant date for determining the issue price is August 21, 2013, being 30 days prior to the date of the ensuing Annual General Meeting.
b) Enabling resolution for raising funds upto Rs. 1000 crores
The Board has accorded its approval for an enabling resolution for raising of funds upto Rs. 1,000 Crores through issue of equity shares / convertible debentures / GDRs / ADRs and/or such other securities either through preferential issue and / or qualified institutional placement and / or private placement, etc. in one or more tranches at an appropriate time.
2. Increase in borrowing powers of the Board from Rs. 5,000 Crores to Rs. 6,000 Crores and for creation of charge/mortgage to that extent
The Board has approved, subject to the consent of the Members at the ensuing Annual General Meeting scheduled to be held on September 20, 2013, increase in borrowing powers of the Board from Rs. 5,000 Crores to Rs. 6,000 Crores and for creation of charge/mortgage to that extent.
3. Appointment of Mr. Tondehal Ravindranath as Nominee Director of Syndicate Bank
Syndicate Bank, one of the CDR lenders, has nominated Mr. Tondehal Ravindranath as a nominee director. The Board has approved his appointment as an Additional Director with effect from August 13, 2013.
4. Enabling Resolution for Sale of Hyderabad land
The Board has accorded its consent by way of an enabling resolution for sale of land owned by the Company in Hyderabad. |
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