Suryavanshi Spinning Mills Ltd has informed that the members at the 28th Annual General Meeting (AGM) of the Company held on August 09, 2007, inter alia, have accorded the following:
1. Received, considered and adopted the Audited Balance Sheet as at March 31, 2007, the Profit and Loss Account and Cash Flow Statement for the year ended March 31, 2007, together with Directors Report and Auditors Report thereon.
2. Declared Dividend at the rate of 10% i.e. Re 1/- per Equity Share of Rs 10/- each.
3. Re-appointed Sri. Akkineni Nageswara Rao and Sri. D K Agarwal as Directors of the Company liable to retire by rotation.
4. Appointed M/s. Brahmayya & Co., Chartered Accountants, Hyderabad as Auditors of the Company to hold office from the conclusion to this Annual General Meeting until the conclusion of the next AGM of the Company.
5. Authorised the Board of Directors to create mortgage / charge on the fixed assets of the Company in favour of Banks to secure the Financial Assistance extended by them.
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