Polyplex Corporation - Outcome Of AGM

Polyplex Corporation Ltd has informed that the members at the 22nd Annual General Meeting (AGM) of the Company held on September 15, 2007, inter alia, have transacted the following:
1. Adoption of Audited Balance Sheet as at March 31, 2007 and the Profit & Loss Account for the year ended on that date together with the Reports of the Directors and Auditors thereon.
2. Declaration of Dividend @40% (Rs 4/- on each equity share of the face value of Rs 10/-)
3. Appointment of Shri S G Subrahmanyan as Director liable to retire by rotation.
4. Appointment of M/s Lodha & Co., Chartered Accountants from the conclusion of 22nd Annual General Meeting to the conclusion of next Annual General Meeting with the authority to the Board of Directors to fix their remuneration.
5. Non-filling of vacancy caused on the Board of Directors due to the retirement of Shri Ramesh Bhatia, who retired at the 22nd Annual General Meeting.
6. Appointment of Shri Ranjit Singh as Director of the Company.
7. Appointment and Fixation of remuneration of Shri Ranjit Singh as Whole-time Director for a period of three years w.e.f. July 13, 2007, by way of Special Resolution..
8. Authority to Board of Directors pursuant to Section 293(1)(d) of the Companies Act, 1956, to borrow upto Rs 700.00 Crores.
9. Authority to Board of Directors pursuant to Section 293(1)(a) of the Companies Act, 1956, to create charge / mortgage assets properties of the Company to secure the borrowings of the Company upto Rs 700.00 Crores.