BS Transcomm to hike borrowing limit

| Updated on: Apr 18, 2011

BS Transcomm Ltd has informed the BSE that the Board of Directors of the company, at its meeting held on April 16, has approved a proposal to increase the borrowing powers of the company to up to Rs 3,000 crore, subject to approval of members through postal ballot. The board has also decided to issue corporate guarantee for investment to and in its wholly-owned subsidiary companies, as and when it is required. The company seeks to add new areas of business in the Memorandum of Association. This relates to the term ‘Infrastructure Sector' (as defined under Income Tax Act, 1961) in relation to generation and distribution of power, its transmission, roads and highways. It is proposed to amend Articles of Association, authorising the board with power to issue securities, bonds, instruments convertible into equity shares. Further, the board approved appointment of Mr Kapil Kumar Kathpalia and Mr Subrata Kumar De, Independent Directors of the company, on the boards of subsidiary companies —Reema Laxmi Mining & Energy Ltd and Sugan Automatics Pvt Ltd — respectively.

Published on April 18, 2011

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