Videocon Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 26, 2011, inter alia, transacted the following business:1. Recommended dividend of Re. 1/- (Rupee One Only) per share for the accounting year ended on December 31, 2010, for the consideration and declaration by the members at the ensuing Annual General Meeting.2. Approved issue of Equity Shares or any other convertible instruments for an amount not exceeding Rs. 1,000 Crores, at an appropriate time, by way of Follow on Issue, Private Placement basis qualified Institutional Placement basis, American Depository Receipts (ADRs), Global Depository Receipts (GDRs), Foreign Currency Convertible Bonds (FCCBs) or any other mode or mechanism, subject to necessary approval and consent.3. The Board has further proposed in terms of the provisions of Section 192A of the Companies Act, 1956, read with the Companies (Passing of the Resolutions by Postal Ballot) Rules, 2001, inter-alia, to transact the following special business(es) through postal ballot :(a) To authorize the Board of Directors of the Company to borrow funds upto an amount of Rs. 30,000 Crores (Rupees Thirty Thousand Crores Only), in terms of the provisions of sub-clause (d) of sub-section (1) of Section293 of the Compabies Act, 1956(b) To authorize the Board of Directors of the Company to sell, lease, mortgage, or otherwise dispose off the whole of substantially the whole of undertaking of a Company upto an amount of Rs. 30,000 Crores (Rupees Thirty Thousand Crores Only), in terms of the provision of sub-clause (a) of sub-section (1) of Section 293 of the Companies Act, 1956. (c) To authorize the Board of Directors of the Company to make investments, extend guarantee provide security, make inter-corporate loans upto an amount of Rs. 25,000 Crores (Rupees Twenty Five Thousand Crores Only) under Section 372A of the Companies Act, 1956.Source : BSE
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