Panoramic Universal has received an approval for the proposal to dilute the equity stake of the company in Seaview Homes Company, a company incorporated in Thailand by reducing its shareholding to 49% from 70% held at present at such time and in such manner as may be considered appropriate. The board at its meeting held on November 08, 2012 has approved for the same.
The company has also received approval for the proposal of making investment in securities of and/or giving loan(s) to one or more body corporate/es in Singapore up to an overall limit of Rs ten crore as and by way of incorporation(s) /acquisition(s)/strategic alliance(s)/joint venture(s)/associate(s)/subsidiary(ies)/wholly owned subsidiary(ies) or any contractual arrangement with other companies abroad.
Panoramic Universal engages in the hospitality and information technology businesses. The company owns and operates hotel properties in India, the United States, and New Zealand.
