Idea Cellular Ltd has informed that the members at the 12th Annual General Meeting (AGM) of the Company held on December 12, 2007, inter alia, have accorded to the following:
1. Adoption of the profit and Loss Account for the year ended March 31, 2007 and the Balance Sheet of the Company as at March 31, 2007, the Directors Report and the Auditors Report thereon.
2. Re-appointment of Mr. Saurabh Misra, Ms. Tarjani Vakil & Mr. Mohan Gyani as Directors of the Company.
3. Re-appointment of M/s. Deloitte Haskins and Sells, Chartered Accountants, the surviving retiring Auditors, as the Statutory Auditors of the Company to hold office from the conclusion of this meeting until the conclusion of the next Annual General Meeting of the Company, on remuneration, terms and conditions.
4. Appointment of Mr. Biswajit A Subramanian & Mr. G P Gupta as Directors of the Company, liable to determination by retirement by rotation.
5. Authority to Board to borrow any sums or sums of money from time to time at their discretion, for the purpose of the business of the Company from any one or more Bank(s), Financial Institutions and other persons, firms, bodies corporate, notwithstanding that the monies to be borrowed together with monies already borrowed by the Company (apart from temporary loans obtained from the Companys Bankers in the ordinary course of business) may, at any time, exceed upto a sum of Rs 12,000 crore (Rupees Twelve Thousand crore) over and above the aggregate of the then paid up capital of the Company and its free reserves (that is to say, reserves not set apart for any specific purpose ) and that the Board of Directors be and is hereby empowered and authorised to arrange or fix the terms and conditions of all such monies to be borrowed from time to time as to interest, repayment, security or otherwise as they may, in their absolute discretion, think fit, subject to necessary provisions and approvals.
1. Adoption of the profit and Loss Account for the year ended March 31, 2007 and the Balance Sheet of the Company as at March 31, 2007, the Directors Report and the Auditors Report thereon.
2. Re-appointment of Mr. Saurabh Misra, Ms. Tarjani Vakil & Mr. Mohan Gyani as Directors of the Company.
3. Re-appointment of M/s. Deloitte Haskins and Sells, Chartered Accountants, the surviving retiring Auditors, as the Statutory Auditors of the Company to hold office from the conclusion of this meeting until the conclusion of the next Annual General Meeting of the Company, on remuneration, terms and conditions.
4. Appointment of Mr. Biswajit A Subramanian & Mr. G P Gupta as Directors of the Company, liable to determination by retirement by rotation.
5. Authority to Board to borrow any sums or sums of money from time to time at their discretion, for the purpose of the business of the Company from any one or more Bank(s), Financial Institutions and other persons, firms, bodies corporate, notwithstanding that the monies to be borrowed together with monies already borrowed by the Company (apart from temporary loans obtained from the Companys Bankers in the ordinary course of business) may, at any time, exceed upto a sum of Rs 12,000 crore (Rupees Twelve Thousand crore) over and above the aggregate of the then paid up capital of the Company and its free reserves (that is to say, reserves not set apart for any specific purpose ) and that the Board of Directors be and is hereby empowered and authorised to arrange or fix the terms and conditions of all such monies to be borrowed from time to time as to interest, repayment, security or otherwise as they may, in their absolute discretion, think fit, subject to necessary provisions and approvals.
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