Zylog Systems’ Board at its meeting held on January 30, 2009, had approved the investment in the Equity shares of its 100% subsidiary Zylog Systems (India) aggregating to Rs 24.90 crore towards the WIFI Projects, which is well within the permissible limit of the Companies Act, 1956.
The board also approved the proposal of availing enhancement of working capital facility by Rs 30 crore and additional Term Loan Facility of Rs 20 crore for acquisition of Fairfax Consulting Inc from Union Bank of India.