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| Exchange Disseminated Time | Vardhman Textiles Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 07, 2014.
"RESOLVED THAT pursuant to provisions of Section 110 read with Rule 22 of Companies (Management and administration) Rules, 2014 and other applicable provisions / rules, if any, of the Companies Act, 2013 or any re-enactment thereof; any other law for the time being in force and subject to approval of members of the Company, the consent of Board of Directors of the Company, be and is hereby accorded to conduct the Postal Ballot to seek member's approval by a Special Resolution for the following items of business:
a) To borrow over and above the aggregate of paid up share capital and free reserves of the Company provided that the total amount of such borrowings together with the amounts already borrowed and outstanding at any point of time shall not be in excess of Rs. 2,200 Crores (Rupees two thousand two hundred crores only) pursuant to provisions of section 180(1) (c ).
b) To mortgage and/or create any charge on immovable and / or movable properties of the Company pursuant to provisions section 180(1)(a)". |
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