Brief: Talwalkars Better Value Fitness approves increase in borrowing limit to 6 bln rupees

Talwalkars Better Value Fitness

06/05/2016 04:38

May 5 (Reuters) - Talwalkars Better Value Fitness Ltd  TALW.NS : 
 * Approved increase in borrowing limit to inr 6 billion; approved offer to 
   subscribe to NCDs of up inr 1.25 billion 
 
 * Source text: 
Talwalkars Better Value Fitness Limited has informed the Exchange the Board of Directors of the Company in its meeting held on May 05, 2016, has discussed and decided on the following : 1. Increase the borrowing limit of the Company to Rs. 600 Crores. 2. Approve the offer or invitation to subscribe to Non-Convertible Debentures, in one or more series or tranches, aggregating up to Rs.125 Crores, on private placement basis during the financial year 2016-17. 3. Conduct Postal Ballot pursuant to Section 110 and other applicable provisions of the Companies Act, 2013 and relevant rules made there-under and authorized Mr. Vinayak Gawande, Whole-time Director and Ms. Avanti Sankav, Company Secretary to supervise and control the entire Postal Ballot process. 
 
 
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