AVT Natural Products Ltd has informed that that the members at the 21st Annual General Meeting (AGM) of the Company held on July 27, 2007, inter alia, have accorded to the following:
1. Adoption of the audited Balance Sheet of the Company as at March 31, 2007 and Profit & Loss Account for the year ended on that date together with the Directors and Auditors Report thereon.
2. Declaration of dividend of 30% for the year ended March 31, 2007.
3. Re-appointment of Mr. Ajit Thomas as a Director of the Company, liable to retire by rotation.
4. Re-appointment of M/s. Suri & Co., Chartered Accountants as Auditors of the Company to hold office from the conclusion of this Annual General Meeting till the conclusion of this next Annual General Meeting of the Company on remuneration, terms & conditions.
5. Appointment of Mr. P Shankar, as a Director of the Company, liable to retire by rotation.
6. Authority to the Board to borrow, obtain and / or avail by way of loans and / or advances; any sums of money or moneys (apart from the temporary loans obtained from the Companys bankers in the ordinary course of business) from Banks / Financial Institutions / Other Bodies Corporate, not withstanding that the total borrowing may exceed the aggregate of the paid-up Capital of the Company and its free reserves (that is to say, reserves not set apart for any specific purpose) provided, however, the aggregate amount so borrowed and / or availed from Banks / Financial Institutions / Other Bodies Corporate shall not exceed at any point of time Rs 75,00,00,000/-.
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