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Our Bureau

Hyderabad , June 5

The board of directors of Viceroy Hotels has at its meeting held on Monday approved the sanction of rupee term loan to the tune of Rs 84 crore from banks.

The company informed the stock exchanges that State Bank of Indore sanctioned Rs 56 crore, while State Bank of Mysore extended a loan of Rs 28 crore to part-finance the Bangalore project.

Further, the company said its board has authorised its Managing Director, Mr P. Prabhakar Reddy, to sign loan agreements and other documents in connection therewith.

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