Diamond Power Infra seeks shareholders’ nod to raise borrowing limit
Diamond Power Infrastructure will seek shareholders’ approval to raise its borrowing limit to Rs 3,000 crore in its annual general meeting on December 14, according to a regulatory filing.
It company requires to borrow funds from time to time to meet both its short and long-term business objectives from various external agencies like banks, financial institutions, bodies corporate, individuals or other kinds of lenders.
The total amount of such borrowings as well as the outstanding at any time cannot exceed the aggregate of paid-up capital and free reserves of the company, except with the consent of the members as per Companies Act 2013, it explained.
