Indag Rubber - Outcome Of AGM

Indag Rubber Ltd has informed that the members at the 28th Annual General Meeting (AGM) of the Company held on September 21, 2007, inter alia, have accorded the following:1. Adoption of the Audited Balance Sheet of the Company as at March 31, 2007 and the Profit & Loss Account together with Cash Flow Statement for the year ended on that date along with the Reports of the Board of Directors & Auditors thereon.2. Re-appointment of Mr. S L Khemka & Mr. R Parameswar as Directors of the Company.3. Appointment of M/s. S R Batliboi & Associates, Chartered Accountants, as Statutory Auditors of the Company to audit the Accounts for the Accounting year 2007-08 and to hold office from the conclusion of this meeting until the conclusion of the next Annual General Meeting of the Company, on remuneration, terms & conditions.4. Authority to the Board of Directors to borrow any sum or sums of money from time to time at their discretion, for the purpose of the business of the Company, which together with the monies already borrowed by the Company) (apart from temporary loans obtained from the Companys Bankers in the ordinary course of business) may exceed at any time, the aggregate of he paid--up capital of the Company and its free reserves (that is to say, reserves, not set apart for any specific purpose) by a sum not exceeding 200% (two hundred per cent) of the aggregate of the paid-up capital of the Company and its free reserves, and that the Board of Directors be and is hereby empowered and authorized to arrange or fix the terms and conditions of all such monies to be borrowed from time to lime as to interest, repayment, security or otherwise as it may think fit, subject to necessary provisions & approvals.