Amtek Auto board approves selling its properties to raise up to Rs 3000 crore.
Amtek Auto Ltd has informed that the Board of Directors of the Company at its meeting held on January 30, 2009, inter alia, has approved the following resolution subject to approval by members of the Company by way of postal ballot:
1. Authorization under section 293(1) (a) to sell, lease, mortgage, sub-divide, transfer or otherwise dispose off whole or substantially the whole of the properties of the Company whosesoever situated present or future to or in favour of Company’s Bankers, financial institution or any other body corporate for various financial requirements of the Company up to a limit not exceeding Rs 3000 Crores.
The Company has appointed Mrs. Iqneet Kaur, Practicing Company Secretary as the scrutinizer to conduct the postal ballot process in a fair and transparent manner
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