Outcome of Board Meeting

IRB Infrastructure Developers Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 20, 2011, inter alia, has approved the following;

1. Ordinary Resolution being circulated for approval of the Members of the Company to be accorded by Postal Ballot in accordance with the provisions of Section 192A of the Companies Act, 1956 read with the Companies (Passing of the Resolution by Postal Ballot), Rules, 2011 for creation of further mortgage and/or charge and hypothecation to provide security under Section 293(l)(a) of the Companies Act, 1956.

2. Enabling resolution for raising of funds by further issue of securities in Domestic/ International markets through various instruments including equity shares/ warrants with Non-Convertible Debentures under Qualified Institutions Placement (QIP) pursuant to the provisions of Chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 as in force or Foreign Currency Convertible Bonds (FCCBs) or American Depository Receipts (ADRs) or Global Depository Receipts (GDRs) etc, upto an amount not exceeding Rs. 1,200 crores subject to compliance with related provisions of law and other permissions, sanctions, approvals as may be required.

Source : BSE - >www.bseindia.com

Published on July 20, 2011


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