Anant Raj Industries Ltd has informed that the Board of Directors of the Company at its meeting held on September 14, 2007, has transacted the following:
A. Resolved the followings:
i. Allotted 55,06,744 equity shares pursuant to the merger of Grand Meadows Ltd, Papillon Estates Ltd, Roseview Estates Pvt Ltd and Bhasin Resorts Pvt Ltd.
ii. The board has authorized Mr. Amit Sarin, Executive Director (Commercial) to fixed the record date in consultation with Stock Exchanges.
B. Declared the result of Postal Ballot through which the shareholders of the Company has passed the following resolutions:
I. Increase in the Authorized Share Capital of the Company from Rs 50.00 Crores to Rs 75.00 Crores.
II. Re-appointment of Mr. Anil Sarin, as Managing Director of the Company for a period of 5 years effective from December 31, 2007.
III. Payment of remuneration to Mr. Ashim Sarin, Executive Director Construction.
IV. Payment of remuneration Mr. Amar Sarin, Executive Director Business Development.
V. To invest an amount of Rs 34,00,000 by way of purchase of entire paid up capital of the following thirty Companies namely:
1. Fabulous Builders Pvt Ltd
2. Equinox Properties Pvt Ltd
3. Kalinga Buildtech Pvt Ltd
4. Elevator Buildtech Pvt Ltd
5. Blossom Buildtech Pvt Ltd
6. Elevator Builders Pvt Ltd
7. Novel Housing Pvt Ltd
8. Vibrant Buildmart Pvt Ltd
9. Novel Buildcon Pvt Ltd
10. Sovereign Buildwell Pvt Ltd
11. Gadget Builders Pvt Ltd
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