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Videocon Industries’ shareholders clears proposals on loans, fund-raising

17 Oct 2011 Evaluate

Videocon Industries has received an approval from its shareholders' whereby they have cleared the proposal to make investments, provide securities and extend guarantees and inter-corporate loans up to an amount of Rs 25,000 crore. The shareholders have passed resolutions through a postal ballot.

Further, the shareholders have also a passed resolution that enables the company to borrow up to Rs 30,000 crore. The shareholders have approved a previous proposal for sell, lease, mortgage, or otherwise dispose of the whole or substantially the whole of undertaking of the company.

Recently, Videocon Hydrocarbon Holdings, a wholly owned subsidiary of the company, had informed that the well operator-Anadarko Petroleum Corporation, USA (Anadarko), had reported the cumulative results of the exploration and appraisal success offshore Mozambique have substantially increased the resource potential in the Offshore Area 1 of the deepwater Rovuma Basin.

Videocon Inds. Share Price

7.25 0.00 (0.00%)
15-Jun-2021 18:01 View Price Chart
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