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Outcome of Board Meeting

| Updated on December 02, 2014 Published on December 02, 2014

Steel Exchange India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 14, 2014, inter alia, has approved the following;

1. Approved the Notice of Postal Ballot for obtaining the consent of the members for the following items:

- Approval of the Scheme of Amalgamation between Simhadri Power Limited and Steel Exchange India Limited.

- Authorizing the Board of Directors to dispose of the whole or substantially the whole of the undertaking of the Company including by way of mortgage and/or creation of security interests on movable and/or immovable properties of the Company, both present and future, in respect of its borrowings.

- Authorizing the Board of Directors to borrow up to a maximum limit of Rs. 2000.00 crores.

2. Appointed Mr. S. Sarveswar Reddy as the Scrutinizer for the Postal Ballot.

Source : BSE - >www.bseindia.com

Published on December 02, 2014
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