Bajaj Auto Finance hikes borrowing powers of BoDs upto Rs 5k cr

New Delhi, Feb 2 (UNI) Bajaj Auto Finance today said it has increased the borrowing powers of the Board of Directors (BoDs) upto Rs 5,000 crore.

The members of the company by way of postal ballot have passed the Ordinary/Special resolutions, with requisite majority, a statement said.

Under section 293(1)(d) of the Companies Act, 1956, it consented to the BoDs to create mortgages, charges, etc, on all or any of the company's assets and properties, both present and future, whether movable or immovable including the whole and/or substantially the whole of the its undertaking upto a maximum amount of Rs 5,000 crore.

The company also decided to increase the percentage limit of investments by Foreign Institutional Investors (FIIs) under Portfolio Investment Scheme from 24 per cent to 30 per cent.

UNI