Balrampur Chini Mills Ltd has informed that the members at the 32nd Annual General Meeting (AGM) of the Company held on February 18, 2008, inter alia, have accorded the following:
1. Adoption of the Directors Report and the Audited Accounts of the Company for the year months period ended September 30, 2007.
2. Re-appointment of Shri. R K Choudhury & Shri. S B Budhiraja as Directors of the Company.
3. Re-appointment of Messrs. G P Agrawal & Co., Chartered Accountants, Kolkata as Auditors of the Company until the conclusion of the next Annual General Meeting of the Company, on remuneration, terms & conditions.
4. Authority to the Board for mortgaging and / or creating charge by the Board of Directors of the Company with such ranking as to priority and for such lime and on such terms as the Board may determine, all or any of the movable and / or immovable, tangible and / or intangible properties, both present and future of the Haidergarh Unit and Rauzagaon Unit of the Company wheresoever situated, present and future and the whole of the undertaking of the Haidergarh Unit and Rauzagaon Unit together with the power to take over the management of the business and concern of the Company in certain events of default in favour of International Finance Corporation (IFC), Washington, USA to secure their Term Loan not exceeding US $ 40,000,000 (United States Dollar Forty Million) availed of / to be availed of by the Company from IFC together with interest thereon at the respective rates, compound interest, additional interest, liquidated damages, commitment charges, premia on prepayment, costs, charges, expenses, premium (if any) on redemption, all other costs, charges and expenses, including any increase as a result of devaluation / revaluation / fluctuation in the rates of exchange and all other monies payable by the Company in terms of the facility agreement dated April 18, 2007
1. Adoption of the Directors Report and the Audited Accounts of the Company for the year months period ended September 30, 2007.
2. Re-appointment of Shri. R K Choudhury & Shri. S B Budhiraja as Directors of the Company.
3. Re-appointment of Messrs. G P Agrawal & Co., Chartered Accountants, Kolkata as Auditors of the Company until the conclusion of the next Annual General Meeting of the Company, on remuneration, terms & conditions.
4. Authority to the Board for mortgaging and / or creating charge by the Board of Directors of the Company with such ranking as to priority and for such lime and on such terms as the Board may determine, all or any of the movable and / or immovable, tangible and / or intangible properties, both present and future of the Haidergarh Unit and Rauzagaon Unit of the Company wheresoever situated, present and future and the whole of the undertaking of the Haidergarh Unit and Rauzagaon Unit together with the power to take over the management of the business and concern of the Company in certain events of default in favour of International Finance Corporation (IFC), Washington, USA to secure their Term Loan not exceeding US $ 40,000,000 (United States Dollar Forty Million) availed of / to be availed of by the Company from IFC together with interest thereon at the respective rates, compound interest, additional interest, liquidated damages, commitment charges, premia on prepayment, costs, charges, expenses, premium (if any) on redemption, all other costs, charges and expenses, including any increase as a result of devaluation / revaluation / fluctuation in the rates of exchange and all other monies payable by the Company in terms of the facility agreement dated April 18, 2007
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