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Outcome of Board Meeting

| Updated on February 24, 2016 Published on February 24, 2016

Sheraton Properties & Finance Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 23, 2016, has decided to seek shareholders approval for the below mentioned activities by way of Postal Ballot:

1. Making Investments or giving loans/guarantees to the Bodies Corporate including associate company(ies) not exceeding a limit of Rs. 350 Crores (Rupees Three Hundred and Fifty Crores only) pursuant to the provisions of Section 186 of the Companies Act, 2013; and

2. Acceptance of Deposits from Members pursuant to the provisions of Section 73 of Companies Act, 2013.

The Board has authorized Mr. Jayesh B. Bhansali, Director of the Company to conduct the entire Postal Ballot Process, sign and send the notice alongwith other documents.

Further, the Board has appointed Mr. Himanshu S. Kamdar, Partner, M/s. Rathi & Associates, Practicing Company Secretaries, Mumbai as the Scrutinizer for conducting the postal ballot process in a fair and transparent manner.

Source : BSE - >www.bseindia.com

Published on February 24, 2016
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