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Source: media reports

M&M seeks nod to borrow Rs6,000 crore

M&M seeks nod to borrow Rs6,000 crore
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First Published: Thu, Mar 29 2007. 12 11 AM IST
Updated: Thu, Mar 29 2007. 12 11 AM IST
Mahindra and Mahindra Ltd has informed BSE that an extraordinary general meeting (EGM) of the members of the company will be held on 20 April 2007, to approve borrowings worth Rs6,000 crore. The EGM will also seek approval of shareholders, for the company to make any loan(s) to, and / or give any guarantee(s), and / or acquire securities of any other body corporate even if such loans, guarantees, securities and investments exceeds the ceiling prescribed under section 372A of the Companies Act, 1956, provided that the excess over the ceiling prescribed under section 372A of the Companies Act 1956 computed at the beginning of the financial year will not at any time exceed Rs 1,500 crore, subject to necessary provisions & approvals.
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First Published: Thu, Mar 29 2007. 12 11 AM IST
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