Held on 08 July 2016
Arman Financial Services announced that the Board of Directors of the Company at its meeting held on 08 July 2016, has approved the following proposals, subject to the approval of the Shareholder of the Company by way of passing the special resolutions through postal Ballot (including e-voting):1. Issue of secured/ unsecured Non- Convertible Debenture through private placement upto Rs.100 crore as per the provision of section 42 of the Companies Act, 2013 read with the applicable rules made there under.
2. Increase the Borrowing limit up to Rs. 200 crore as per section 180(1)(c) of the Companies Act, 2013.
3. Creation of mortgage and or / charge on movable and or / immovable properties of the Company, both present and future, for securing loan up to Rs. 200 Crore as per section 180(1)(a) of the Companies Act, 2013.
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