• search

Sri Adhikari Bros to increase borrowing limit to Rs 100 cr

Written by: Staff

New Delhi, Aug 31 (UNI) Sri Adhikari Brothers Television Network Ltd today said its board has approved to increase the limit of its borrowings to Rs 100 crore besides raising of funds by issue of securities in the domestic and international markets.

''The Board of Directors at its meeting approved the proposal to raise funds by issue / offer of securities including equity shares, Global Depository Reciepts (GDRs), Foreign Convertible Currency Bonds (FCCBs), warrants, bonds or any other financial instruments.

It also decided to increase the borrowing limits under Section 293 (1) (d) of the Companies Act, 1956 to the extent of Rs 100 crore,'' a company statement said.

The proposal to increase the authorised share capital of the company from Rs 15 crore to Rs 20 crore has also been sanctioned by the board.

The members of the company will meet during the Annual General Meeting of the company on September 28, 2006 to consider the above matters.

A dividend of 6 per cent (Rs.0.12 per share) has been recommended by the board to the equity shareholders for the financial year ended March 31, 2006. Date from which the dividend is payable is September 28, 2006 UNI CS LS RN1321

For Daily Alerts
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more