Corporate News     04-Dec-09
India Glycols to raise funds
Appoints Ravi Jhunjhunwala as director
The members of India Glycols have accorded the board to create mortgage / charge by way of first and second charge on all the immovable / movable properties of the company, wherever situate, both present and future / conferring power to enter upon and to take possession of assets and the whole of the undertaking together with power to takeover the management of the business or concern of the company in certain events in favour of the Financial Institutions, NBFCs, lenders / commercial banks to secure the borrowings in form of the rupee term loans, corporate loans, foreign currency loans, non-convertible debentures / working capital limits and any other form of loan of whatever nature for an amount not exceeding Rs. 1000 crore.

The members have accorded the appointment of Ravi Jhunjhunwala as director of the company, liable to retire by rotation.

This was accorded at the extraordinary general meeting held on 30 November 2009.

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