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| Exchange Disseminated Time | Man Infraconstruction Ltd has informed BSE that the Board of Directors of the Company at its meeting held November 12, 2014, inter alia, among other matters, approved the Postal Ballot Notice along with Calendar of Events for seeking approval of members for:
1. Authorizing the Board of Directors to invest or to provide loans and advances or give guarantees / securities up to 60% of the paid-up share capital, free reserves and securities premium account or 100% of free reserves and securities premium account or Rs. 1800 Crores, whichever is higher;
2. Authorising the Board of Directors of the Company to enter into contracts or arrangement with the related parties including material related party transactions pursuant to Section 188 of the Companies Act, 2013, the Companies (Meeting of Board and its Powers) Rules, 2014 and clause 49(VII) of the Listing Agreement; and
3. Authorising Manaj Infraconstruction Limited, a Material Subsidiary of the Company to sell, lease or dispose of its assets pursuant to clause 49(V) (G) of the Listing Agreement.
The cutoff date for the purpose of determining the entitlement of shareholders for voting under aforesaid Postal Ballot has been fixed as Friday, November 14, 2014. |
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