Thiru Arooran Sugars Ltd has informed that the members at the 52nd Annual General Meeting (AGM) of the Company held on December 29, 2007, inter alia, have accorded the following:
1. Adoption of the Report of Directors, Auditors & the Audited Profit & Loss Account for the year ended September 30, 2007 and the Balance Sheet as at that date.
2. Re-appointment of Mrs. Malathi Ram & Mr. V Thirupathi as Directors of the Company.
3. Re-appointment of M/s. S N S Associates, Chartered Accountants, as Auditors of the Company to hold office from the conclusion of this Annual General Meeting until the conclusion of the next Annual General Meeting of the Company, on remuneration, terms & conditions.
4. Re-appointment of Mr. R V Tyagarajan as Managing Director of the Company for a period of 5 years with effect from November 01, 2007, on remuneration, terms & conditions.
5. Authority to the Board of Directors for mortgaging and / or charging of all the immovable and movable properties of the Company, wheresoever situate, present and future, and the whole of the undertaking of the Company to or in favour of Punjab National Bank to secure the Term Loan of Rs 180 million (Rupees One Hundred and eighty million only) sanctioned by them together with interest thereon, at the agreed rates, compound interest, additional interest, liquidated damages, premia on prepayment, costs, charges, expenses and all other monies payable by the Company to Punjab National Bank in terms of the Loan Agreement entered into by the Company in respect of the said loan, subject to necessary provisions & approvals.
Further the Company has informed that, the below mentioned point should be passed by way of postal ballot.
1. Adoption of the Report of Directors, Auditors & the Audited Profit & Loss Account for the year ended September 30, 2007 and the Balance Sheet as at that date.
2. Re-appointment of Mrs. Malathi Ram & Mr. V Thirupathi as Directors of the Company.
3. Re-appointment of M/s. S N S Associates, Chartered Accountants, as Auditors of the Company to hold office from the conclusion of this Annual General Meeting until the conclusion of the next Annual General Meeting of the Company, on remuneration, terms & conditions.
4. Re-appointment of Mr. R V Tyagarajan as Managing Director of the Company for a period of 5 years with effect from November 01, 2007, on remuneration, terms & conditions.
5. Authority to the Board of Directors for mortgaging and / or charging of all the immovable and movable properties of the Company, wheresoever situate, present and future, and the whole of the undertaking of the Company to or in favour of Punjab National Bank to secure the Term Loan of Rs 180 million (Rupees One Hundred and eighty million only) sanctioned by them together with interest thereon, at the agreed rates, compound interest, additional interest, liquidated damages, premia on prepayment, costs, charges, expenses and all other monies payable by the Company to Punjab National Bank in terms of the Loan Agreement entered into by the Company in respect of the said loan, subject to necessary provisions & approvals.
Further the Company has informed that, the below mentioned point should be passed by way of postal ballot.
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