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Wednesday, Feb 19, 2003

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Tata Fin seeks shareholder nod for pvt placement

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MUMBAI, Feb. 18

THE board of Tata Finance Ltd (TFL) has sought the approval of its shareholders for issuing cumulative redeemable preference shares of up to Rs 200 crore on a private placement basis. In a notice to the Bombay Stock Exchange, the company has also decided to increase its authorised share capital.

The company is seeking its shareholders' approval through a postal ballot.

It is also seeking approval for amendments in Articles of Association for increase in the authorised share capital and Articles of Association for change in the period of conversion of cumulative convertible preference shares.

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