In a filing to the BSE, Ansal informed that its directors also approved another proposal to provide corporate guarantee or securities of the company up to Rs 470 crore and interest on behalf of Ansal Phalak Infrastructure.
Ansal API will seek shareholders approval through postal ballots.
Delhi-based Ansal API has developed over 260 million sq ft of area so far. It is currently developing 18 integrated townships and has a land reserve of 9,731 acres, of which 7,250 acre has been acquired.
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