Accel Transmatic Ltd has informed that members of the Company, by way of Postal Ballot have passed the special resolution for granting loans to, furnishing guarantees or providing security in connection with a loan or accruing the securities of any body corporate upto an a amount of Rs 20 crores (Rupee Twenty Crores only), including any loans or guarantees already given or security already created or securities already acquired by the Company including the issue of the corporate guarantee of Rs 2 crores (Rupees Two Crores only) (the Corporate Guarantee) by the Company on January 28, 2008 in favour of The Federal Bank Ltd, guaranteeing the repayment of principal interest and all other amounts relating to the loan of Rs 2 crores (Rupees Two Crores Only) for a term of 3
(Three) years granted by the said The Federal Bank Ltd to Accel Academy Ltd.
(Three) years granted by the said The Federal Bank Ltd to Accel Academy Ltd.
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