Comments
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.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.