Manaksia Ltd has informed BSE that after reviewing the current financial position / need including other aspects relating thereto, the Company has decided not to seek shareholders approval through Postal Ballot Process, as intimated earlier :

1. For Increase in existing borrowing powers from Rs. 750 crores to Rs. 1500 crores under Section 293(1)(d) of the Companies Act 1956.

2. For increase in existing limits for creation of mortgage on the assets of the Company as security under Section 293(1)(a) of the Companies Act 1956.

Source : BSE - >www.bseindia.com

Published on July 12, 2012


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