Trend Electronics Ltd has informed that the Board of Directors of the Company at its meeting held on February 21, 2008, inter alia, approved the followings:
1. To authorise the Board of Directors of the Company to make investments, extend guarantees, provide securities, give inter corporate loans exceeding the limits specified under Section 372A of the Companies Act, 1956 and to confirm guarantees already extended by the Board.
2. To authorise the Board of Directors of the Company to borrow funds upto an amount of Rs 2,500 Crores, in terms of the provisions of Section 293(1)(d) of the Companies Act, 1956.
3. To authorise the Board of Directors of the Company to sell, lease, mortgage or otherwise dispose of whole or substantially the whole of undertaking of a Company upto an amount of Rs 2,500 Crores, as specified under sub-clause (a) of sub-section (1) of Section 293 of the Companies Act, 1956.
The Board has proposed to transact all the aforesaid resolutions by Postal Ballot in terms of the provisions of Section 192A of the Companies Act, 1956 read with the Companies (Passing of the Resolution by Postal Ballot) Rules, 2001.
Accordingly, the Board has approved the draft of notice seeking approval of the members through Voting by Postal Ballot.
1. To authorise the Board of Directors of the Company to make investments, extend guarantees, provide securities, give inter corporate loans exceeding the limits specified under Section 372A of the Companies Act, 1956 and to confirm guarantees already extended by the Board.
2. To authorise the Board of Directors of the Company to borrow funds upto an amount of Rs 2,500 Crores, in terms of the provisions of Section 293(1)(d) of the Companies Act, 1956.
3. To authorise the Board of Directors of the Company to sell, lease, mortgage or otherwise dispose of whole or substantially the whole of undertaking of a Company upto an amount of Rs 2,500 Crores, as specified under sub-clause (a) of sub-section (1) of Section 293 of the Companies Act, 1956.
The Board has proposed to transact all the aforesaid resolutions by Postal Ballot in terms of the provisions of Section 192A of the Companies Act, 1956 read with the Companies (Passing of the Resolution by Postal Ballot) Rules, 2001.
Accordingly, the Board has approved the draft of notice seeking approval of the members through Voting by Postal Ballot.
No comments:
Post a Comment