Corporate News 16-Jun-08
California Software Company to raise funds
Of Rs 250 crore
The members of California Software Company have accorded the board for borrowing from time to time all such sums of money as they may deem requisite for the purpose of the business of the company notwithstanding that moneys to be borrowed together with moneys already borrows by the company will exceed the aggregate of the paid-up capital of the company and its free reserves, that is to say, reserves not set apart for any specific purpose, provided that the total amount up to which moneys may be borrowed by the board of sirectors shall not exceed the aggregate of the paid-up capital and free reserves of the company by more than the sum of Rs 250 crore.
This was accorded at the extraordinary general meeting held on 14 June 2008.
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