Ankit Metal & Power Ltd has informed that the members at the Extra Ordinary General Meeting (EGM) of the Company held on March 01, 2008, inter alia, have passed the following businesses:
1. Authorise the Board to increase the authorised share capital of the Company from the present Rs 35 Crore to Rs 60 crore by addition of 2.5 crores equity shares of Rs 10/- each.
2. Authorise to alter by deleting the existing Clause V of the Memorandum of Association relating to share capital of the Company by substituting in its place and instead, the following as flew Clause V :
The Authorised Share capital of the Company is Rs 60,00,00,000/- (Rupees Sixty Crores) divided into 6,00,00,000 (Six Crores) Equity shares of Rs 10/ (Rupees Ten) each with power to increase and reduce the capital of the Company and to divide or sub-divide the shares in capital of the Company and to divide or sub-divide the shares in capital for the time being into several classes and to attach thereto such preferential qualified or special rights, privileges or conditions as may be determined, by or in accordance with the Article of the Company for the time being.
3. Authorise the Board to borrow from time to time all such sum of money as they may deem requisite for the purpose of the business of the Company notwithstanding that the money to be borrowed together with the money already borrowed by the Company (apart from temporary loans obtained from the Companys bankers in the ordinary course of business) exceed the, aggregate of the paid-up Capital of the Company and its free reserves, that is to say, reserve not set apart for any specific purpose, provided that the aggregate of sum so borrowed shall not exceed Rs 1000 Crores (Rupees One Thousand Crores only) at any point of time.
1. Authorise the Board to increase the authorised share capital of the Company from the present Rs 35 Crore to Rs 60 crore by addition of 2.5 crores equity shares of Rs 10/- each.
2. Authorise to alter by deleting the existing Clause V of the Memorandum of Association relating to share capital of the Company by substituting in its place and instead, the following as flew Clause V :
The Authorised Share capital of the Company is Rs 60,00,00,000/- (Rupees Sixty Crores) divided into 6,00,00,000 (Six Crores) Equity shares of Rs 10/ (Rupees Ten) each with power to increase and reduce the capital of the Company and to divide or sub-divide the shares in capital of the Company and to divide or sub-divide the shares in capital for the time being into several classes and to attach thereto such preferential qualified or special rights, privileges or conditions as may be determined, by or in accordance with the Article of the Company for the time being.
3. Authorise the Board to borrow from time to time all such sum of money as they may deem requisite for the purpose of the business of the Company notwithstanding that the money to be borrowed together with the money already borrowed by the Company (apart from temporary loans obtained from the Companys bankers in the ordinary course of business) exceed the, aggregate of the paid-up Capital of the Company and its free reserves, that is to say, reserve not set apart for any specific purpose, provided that the aggregate of sum so borrowed shall not exceed Rs 1000 Crores (Rupees One Thousand Crores only) at any point of time.
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