Nitin Spinners - Outcome Of EGM

Nitin Spinners Ltd has informed that the members at the Extra Ordinary General Meeting (EGM) of the Company held on March 30, 2007, inter alia, have accorded to the following:1. Authority to the Board to borrow from time to time sum or sums of money up to a limit not exceeding, in the aggregate, Rs 350 Crores or its equivalent in any foreign currency on such security and on such terms and conditions as the Board may deem fit notwithstanding that the money to be borrowed together with the money already borrowed by the Company (apart from temporary loans obtained from the Companys bankers in the ordinary course of business) will exceed aggregate for the time being of the paid up capital of the company and its free reserves, that is to say, reserves not set apart for any specific purpose, subject to necessary provisions and approvals.2. Authority to the Board to mortgage and / or charge in addition to the existing mortgages and / or charges and Hypothecations created by the Company on such terms and conditions and at such time or times, and in such form and manner as it may deem fit, the whole or substantially the whole of the Companys undertaking or all the undertaking including the present and / or future properties, whether movable or immovable comprised in any existing or new undertaking(s) of the Company