Vedant Hotels to acquire stake in Vihanta Energy Tech

Vedant Hotels Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 09, 2013, inter alia, has approved investment in the securities of Vihanta Energy Technologies Private Limited by way of subscription, purchase or exchange of shares with a purpose to acquire controlling stake in the Company and give loans and / or guarantees in connection with loan(s) given by any other person to the said Company, in one or more tranches, within the limits approved by the shareholders of the Company pursuant to section 372A of the Companies Act, 1956.The Board authorised Mr. Ramesh R. Havele, Chairman and Managing Director, to decide the quantum and other terms and conditions with regard to the investment in the said Company.Source : BSE

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