Bajaj Auto Fin to seek shareholders nod for MF biz

Two-wheeler and consumer durables loan provider Bajaj Auto Finance today said it would seek shareholders' approval through postal ballot to start mutual funds and finance infrastructure projects.

It would conduct postal ballots to secure permission of its shareholders for passing two special resolutions to this effect, Bajaj Auto Finance said in a filing with the Bombay Stock Exchange.

It would seek shareholders' approval through postal ballot to set up or float domestic or offshore trusts or funds, including mutual funds, growth funds, infrastructure capital funds and also to act as financial consultants, it said.

The shareholders would consider another resolution by way of postal ballot to undertake and carry on business of providing long-term finance for development of infrastructure projects in roads, highways, power generation, export promotion parks and software technology parks, it said.

The company has appointed Shyamprasad D Limaye as scrutinizer for conducting the postal ballot procedure, it said.

The duly filled postal ballots should reach the scrutiniser till September 17. The result of the ballot would be announced on September 30.

Shares of the company closed at Rs 200.95, up 1.11 per cent from the previous close on the BSE.