The Hindu Business Line : Viceroy gets nod for Rs 225-cr loan

HYDERABAD: Viceroy Hotels Ltd has informed the stock exchanges that its board meeting has approved the sanction of various long-term rupee loans aggregating Rs 225 crore by banks to part-finance the ongoing expansion projects that were approved.

It has also authorised the company's Managing Director, Mr P. Prabhakar Reddy, to sign the loan agreements and other documents in connection therewith.

Further, the board approved and authorised him to draw the funds out of the above sanctions in one or more tranches and to take bridge loans from the respective banks in case of exigencies.

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