Shareholders okay Hathway to up borrowings to Rs 1600 crore

[Thakur]

BENGALURU:Indian multi system operator (MSO) Hathway Cable and
Datacom has informed the bourses
that it has received shareholder
approval and passed special
resolutions as under1)Special
Resolution under Section 180(l)(c) of the Companies Act, 2013
for authorising the Board of Directors of the
Company to borrow loans in excess of Paid up
Capital and Free reserves of the Company
subject to maximum of Rs 1600 crore.
(2) Special Resolution under Section 180(l)(a)
of the Companies Act, 2013 for authorising the
Board of Directors for creation of Charge /
Hypothecation / Mortgage on the movable /
immovable properties of the Company for
securing the borrowings of the Company
subject to maximum limit of Rs 1600 crore.
(3) Special Resolution under Section 186 of the
Companies Act, 2013 for authorising the Board
of Directors to invest or to provide loans and
advances or give guarantees/ securities up to
100 per cent of free reserves and securities
premium account or Rs 1,000 crore whichever
is higher. http://www.indiantelevision.com/cable-tv/msos/shareholders-okay-hathway-to-up-borrowings-to-rs-1600-crore-140715