Gangotri approves borrowing power up to Rs 100cr

New Delhi, Aug 20 (UNI) Gangotri Iron&Steel Company Ltd today said it has approved increase autorised capital of the company up to Rs 20 crores and borrowing power upto Rs 100 crores u/s 293 (1)(d) of the Companies Act, 1956.

The members at the Extra Ordinary General Meeting (EGM) of the company held on August 16, 2007, have also approved disposal of the company's undertakings or part of the undertaking u/s 293(1)(a) of the Companies Act, 1956.

The company has also informed that the Board of Directors of the company has appointed Sanjiv Kumar Choudhary as the Managing Director of the company effective from July 1, 2007, on remuneration, terms and conditions, subject to the approval of the members at the AGM to be held on September 28, 2007.

UNI