News Details

( 09 Feb 2019)
KMC Speciality Hospi - Outcome of Board Meeting

This is to inform you that the shareholders at the Annual General Meeting of the Company dated 28th September, 2018 approved the limits under Section 185 and 186 of the Companies Act, 2013.
Pursuant to the above, the Board of Directors have at their meeting held on 9th February, 2019 approved the proposal to extend an amount of Rs 3.00 Crores as loan to Sri Kauvery Medical Care (India) Limited, the holding Company at a rate of interest of 9.25% per annum (with an option to reset the interest based on market trends) with a repayment tenure of 5 years and on other terms at arm's length basis.
The total loan amount including the earlier loan approved by the Company dated 11th October 2018 and approval dated 9th February 2019 amounts to 8.50 Crores.