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| Exchange Disseminated Time | BF Utilities Ltd has informed BSE that the members at the Annual General Meeting (AGM) of the Company held on inter alia, have accorded to the following:
1. Increased the authorised Capital of the Company from Rs. 20,00,00,000 (Rupees Twenty Crores) to Rs. 30,00,00,000 (Rupees Thirty Crores) by creation of further 2,00,00,000 (Two Crores) Equity shares of Rs. 5/- each and consequential alternation in the Memorandum & Articles of Association of the Company.
2. Authority to Board of Directors for mortgage / Hypothecation of Company's Assets to secure Company's Borrowings upto Rs. 1500 Crores:
- Authority to the Board to mortgaging, hypothecating, charging and pledging and / or creating a floating charge and / or also to create liens, charges and all other Encumbrakices of whatsoever nature on all or any of the Company's fixed assets, current assets or stock in Trade (including raw materials, stores, spare parts and components, in stock or in transit) and work in Process and investments, and the whole or Substantially the whole of all or any of the Undertakings, of the Company, where so ever situate, Present and future, together with power to take over the Management of the business and concern of the Company in certain events, in such form and in such Manner as the board may think fit and proper, in Favour of Banks / Institutions/ other lenders / trustees Of the holders of securities, aggregating to a nominal Value not exceeding Rs. 15,000,000,000 (Rupees Fifteen Billion) to be issued from time to time in one or more tranches under its borrowing powers, to secure the Principal amount together with interest, compound Interest and all costs, charges and expenses and all Other monies as may become due and payable by the Company in that behalf and to vary or modify existing Securities, from time to time, in such manner and in such form on all or any of the properties or part of any of the property and the undertakings of the Company, both present and future, as may be decided by the board and as agreed to by the said Banks / Institutions / other lenders / Trustees of the holders of securities issued and the holders / Trustees of Debentures / bonds, loans, financial facilities as may be obtained by the Company from time to time and as may be deemed appropriate by the board, subject to necessary provisions & approvals.
3. Authority to Board of Directors for borrowing money upto Rs. 1500 Crores.
- Authority to the Board for borrowing Moneys for and on behalf of the Company from time to time as and when required by the Company, provided that the moneys so borrowed together with the moneys already borrowed by the Company (apart from temporary loans obtained from time to time by the Company from its bankers in the ordinary course of its Business) shall not exceed Rs. 15,000,000,000 (Rupees Fifteen billion) over and above 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, as the board may from time to time deem necessary, subject to necessary provisions & approvals. |
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