InterGlobe Aviation to seek shareholders' nod for giving loans

InterGlobe Aviation, which runs budget carrier IndiGo, will seek shareholders' approval to provide loans and guarantees, among others, worth up to Rs 10,000 crore to entities, according to a regulatory filing.

Besides, the company would seek nod for extending travel benefits to the non-executive independent directors.

The company would seek "authority to the board of directors to give loans and guarantees, provide security and make investments in securities of other bodies corporates pursuant to Section 186 of the Companies Act, 2013," the notice of postal ballot said.

This could be providing loan, advances, deposits to any person, companies or other body corporate, or extending guarantee in connection with a loan to any person, among others.

It could include making "investment in shares, debentures, mutual funds and/ or other securities of any other body corporate," as per the notice.

In this regard, the total amount would be up to Rs 10,000 crore, it added.

The notice has been submitted to the stock exchanges.

Shares of the company closed almost flat at Rs 1,128.15 on the BSE.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)