Indian multi system operator (MSO) Hathway Cable and Datacom has informed the bourses that it has received shareholder approval and passed the following special resolutions:
(1) Special Resolution under Section 180(l)(c) of the Companies Act, 2013 for authorising the Board of Directors of the Company to borrow loans in excess of Paid up Capital and Free reserves of the Company subject to maximum of Rs 1600 crore.
(2) Special Resolution under Section 180(l)(a) of the Companies Act, 2013 for authorising the Board of Directors for creation of Charge / Hypothecation / Mortgage on the movable / immovable properties of the Company for securing the borrowings of the Company subject to maximum limit of Rs 1600 crore.
(3) Special Resolution under Section 186 of the Companies Act, 2013 for authorising the Board of Directors to invest or to provide loans and advances or give guarantees/ securities up to 100 per cent of free reserves and securities premium account or Rs 1,000 crore whichever is higher.
The company has paid Rs 92.52 crore towards finance cost in FY-2014 as compared to the Rs 46.14 crore in FY-2013.
Source: http://cablequest.org/news/cable-news/item/5508-cq-shareholders-okay-hathway-to-up-borrowings-to-rs-1600-cr.html
Source: http://cablequest.org/news/cable-news/item/5508-cq-shareholders-okay-hathway-to-up-borrowings-to-rs-1600-cr.html
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