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Outcome of Board Meeting

| Updated on August 01, 2014 Published on August 01, 2014

Gitanjali Gems Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 01, 2014, inter alia, has proposed to seek approval of shareholders of the Company through postal ballot pursuant to section 110 of companies act, 2013 for the following matters:

1. To raise funds upto Rs. 175 crores by issue of Convertible Warrants to persons other than Promoters by way of preferential allotment in accordance with provisions of Companies Act, 2013 and the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 and other applicable statutory provisions.

2. To borrow upto a limit of Rs. 10,000 crores pursuant to provisions of section 180(1)(c) of the Companies Act, 2013.

3. For creation of charge /hypothecation/mortgage of movable and immovable properties of the Company under Section 180(1)(a) of Companies Act, 2013 upto a limit not exceeding Rs. 10,000 crores.

4. To Make loans(s) and/or give any guarantee(s) / provide any security(ies) under section 186 of Companies Act, 2013 upto a limit not exceeding Rs. 7,500 crores.

Source : BSE - >www.bseindia.com

Published on August 01, 2014
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