Outcome of Board Meeting

TVS Motor Company Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 25, 2013, has approved a proposal to seek the consent of shareholders of the Company for fixing an aggregate limit of not exceeding Rs.2,000 Cr by way of a special resolution through Postal Ballot / E-Voting Facility, in terms of Section 192A of the Companies Act, 1956 (the Act) read with Companies (Passing of the resolution by postal ballot) Rules, 2011 for the purpose of making any loan / giving any guarantee or providing security / acquiring by way of subscription, purchase or otherwise the securities of anybody corporate, in terms of section 372A of the Act.

The proposed aggregate limit is inclusive of loan already made / guarantee or security already provided / Investment already made in subsidiaries including exempted investment in wholly owned subsidiaries (WoS), within the permissible limit under the Act and is enabling in nature in view of any further loan / investment, if any, made in WoS will also be reckoned for the limit under the provisions of the Companies Act 2013.

Source : BSE - >www.bseindia.com

Published on October 28, 2013


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