MUMBAI: Shringar Cinemas Ltd, which operates a chain of multiplexes, has decided to enter the food court business and also to increase the borrowing powers of the company to an amount not exceeding Rs three billion over and above the paid up capital and free reserves of the company.

Shringar also announced that it has appointed Rishi Negi as CEO of the subsidiary company, Oxford Multiplex Cinemas Pvt Ltd.

The shareholders at the EGM also approved the increase in the authorised share capital from Rs 350 million to Rs 520 million.