Board Meeting2 Sept 2026, 06:00 pm
Newtime Infrastructure Board Approves Limits Under Companies Act Sections
AI Summary
Newtime Infrastructure Limited's Board of Directors, in a meeting held on September 2, 2026, approved various limits concerning investments, loans, guarantees, security, borrowing, and disposal of undertaking. These approvals are in excess of limits specified under Sections 180(1)(a), 180(1)(c), 186, 185, and 188 of the Companies Act, 2013. All these approvals are subject to the shareholders' consent at the upcoming Annual General Meeting, with related party transactions requiring a special resolution. The Audit Committee recommended the related party transactions for board consideration.
Key Highlights
- Board approved investment, loan, guarantee, and security limits exceeding Section 186.
- Borrowing limits approved in excess of Section 180(1)(c) of the Companies Act.
- Limits for disposal of the company's undertaking approved under Section 180(1)(a).
- Approvals for loans/guarantees to specified persons under Section 185 granted.
- Related party transaction limits approved under Section 188, subject to shareholder approval.
Price Impact
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