India Infoline - Outcome of Board’s Circular Resolution
India Infoline Ltd has informed BSE that the Board of Directors of the Company through circular resolution on December 17, 2007, inter alia, have decided the following, subject to the necessary approval of shareholders and other regulatory approvals :
1. Seeking approval for sponsoring of mutual fund and setting up of an Asset Management Company and other related entities for carrying on mutual fund activities.
2. Increasing the limits for investments / loans and guarantees upto a maximum amount of Rs 2,000 Crores.
3. Necessary amendments in the main objects and ancillary objects of the Memorandum of Association of the Company.
The Board decided that the above will be subject to approval of shareholders by way of postal ballot and other necessary approvals. The Board authorized the committee of Directors to make appropriate notices and application for seeking necessary approvals.