Transwarranty Finance Ltd has informed that the Board of Directors of the Company at its meeting held on April 04, 2008, has transacted the following:
1. As per the approval of ESOP scheme by the members of the Company in their EGM, held on April 04, 2008, the Board approved the TFL Stock option plan 2008 and has empowered and authorised the Compensation Committee to do all the needful as per the relevant laws and Regulatories.
2. The Board further decided to make a application to the Reserve Bank of India for Converting its status from non deposit taking to deposit taking NBFC and to accept Fixed Deposits from the public after the necessary approval from RBI and following the laid down rules & regulatories.
1. As per the approval of ESOP scheme by the members of the Company in their EGM, held on April 04, 2008, the Board approved the TFL Stock option plan 2008 and has empowered and authorised the Compensation Committee to do all the needful as per the relevant laws and Regulatories.
2. The Board further decided to make a application to the Reserve Bank of India for Converting its status from non deposit taking to deposit taking NBFC and to accept Fixed Deposits from the public after the necessary approval from RBI and following the laid down rules & regulatories.
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