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| Exchange Disseminated Time 30/03/2016 14:38:47 | Cineline India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 30, 2016, has approved the following:
1. Enhancement in borrowing limit of the Company upto to Rs. 300 Crores, subject to Members approval.
2. Company to enter into contracts or arrangement with Kanakia Spaces Realty Private Limited being a related party for buying of commercial property admeasuring 50,002 Sq. Ft. carpet area in the Commercial Property known as "Kanakia Wall Street" situated at Village Chakala Andheri Kurla Road, Andheri (East), Mumbai 400 093, for Rs. 144.66 Crores (Rupees One Hundred Forty Four Crore Sixty Six Lakhs), subject to approval of Members pursuant to Section 188 of the Companies Act, 2013 read with the Companies (Meeting of Board and its Powers) Rules, 2014 and Regulation 23 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015.
3. Draft Postal Ballot notice pursuant to Section 110 and other applicable provisions of the Companies Act, 2013, if any, read together with the Companies (Management and Administration) Rules, 2014 for above said businesses.
4. Appointment of Mr. Dharmesh Zaveri, Practicing Company Secretary as Scrutinizer. |
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