Panoramic Universal has received an approval for the proposal of enhancing the limit for making investment in securities of and/or giving loan(s) to one or more body corporate/es in Dubai up to an overall limit of Rs 20 crore and by way of incorporation(s)/acquisition(s)/ strategic alliance(s)/ joint venture(s)/ associate(ies)/ subsidiary(ies)/ wholly owned subsidiary(ies) or any other contractual arrangement with body corporate(s) abroad.
The board also approved the proposal for making investment in securities of and/or giving loan(s) to one or more body corporate/es in Cape Town, South Africa up to an overall limit of Rs 15 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 other contractual arrangement with body corporate(s) abroad. The board at its meeting held on February 12, 2013 has approved for the same.
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.
