Royale Manor approves corporate guarantee

Royale Manor Hotels & Industries Ltd has announced that the Board of Directors of the Company at its meeting held on December 09, 2006, has approved Corporate guarantee pursuant to provisions of Section 372A and other applicable provisions if any, of the Companies Act, 1956 subject to the specific prior approval of IDBI and TFCI, the lending institutions and allotment of 8,00,000 Equity Shares to M/s Shree Bala Finvest Pvt Ltd, in exercise of rights given to Preferential Warrant issued on October 15, 2005.

Source : Equity Bulls

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