Filmcity Media Ltd has informed that the Board of Directors of the Company at its meeting held on February 26, 2008, inter alia, has taken the following decisions:
1. To amend the Main Objects clause of MOA by inserting a new clause 2 to the existing Main subjects subject to approval of Share holders through Postal Ballot under Section 192 A of the Companies Act, 1956.
2. To obtain the approval of members through Postal Ballot under Section 192A of the Companies Act, 1956 for creation of charge etc., under section 293 (1) (a) of the Companies Act, 1956.
3. Resolved to borrow money in excess of the limit fixed in terms of Section 293(1) (d) of the Companies Act, 1956 subject to ceiling of Rs 250 Crores and subject approval of members through Postal Ballot under Section 192A of the Companies Act, 1956.
4. To amend the Articles of Association of the Company by insertion of the New Articles No. 185, 186 & 187 after the existing Article No. 184.
5. The Board also decided to in respect of the above Postal Ballot
a. Approved the Postal Ballot Notice to be issued to the members.
b. Designated Mr. Surendra Gupta as compliance officer for the above.
c. Appointed Mr. Jagdish Patel, Practicing Company Secretary as scrutinizer for the Postal Ballot.
d. Approved the Calendar of events for conducting the Postal Ballot Process.
6. Resolved to increase the Authorised Capital of the Company from Rs 11,00,00,000/- consisting of 11,00,00,000 shares of Re 1/- each to Rs 30,00,00,000 consisting of 30,00,00,000 shares of Re 1/- each amend the Clause V Memorandum of Association suitably subject to approval of members in their General Meeting.
1. To amend the Main Objects clause of MOA by inserting a new clause 2 to the existing Main subjects subject to approval of Share holders through Postal Ballot under Section 192 A of the Companies Act, 1956.
2. To obtain the approval of members through Postal Ballot under Section 192A of the Companies Act, 1956 for creation of charge etc., under section 293 (1) (a) of the Companies Act, 1956.
3. Resolved to borrow money in excess of the limit fixed in terms of Section 293(1) (d) of the Companies Act, 1956 subject to ceiling of Rs 250 Crores and subject approval of members through Postal Ballot under Section 192A of the Companies Act, 1956.
4. To amend the Articles of Association of the Company by insertion of the New Articles No. 185, 186 & 187 after the existing Article No. 184.
5. The Board also decided to in respect of the above Postal Ballot
a. Approved the Postal Ballot Notice to be issued to the members.
b. Designated Mr. Surendra Gupta as compliance officer for the above.
c. Appointed Mr. Jagdish Patel, Practicing Company Secretary as scrutinizer for the Postal Ballot.
d. Approved the Calendar of events for conducting the Postal Ballot Process.
6. Resolved to increase the Authorised Capital of the Company from Rs 11,00,00,000/- consisting of 11,00,00,000 shares of Re 1/- each to Rs 30,00,00,000 consisting of 30,00,00,000 shares of Re 1/- each amend the Clause V Memorandum of Association suitably subject to approval of members in their General Meeting.
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