Wearology Ltd has informed that the Board of Directors of the Company at its meeting held on April 28, 2008, inter alia, has approved the followings :
1. Approved, subject to the approval of the members through Postal Ballot:
a) sale of manufacturing Unit at Rabale including Land, building and Plant & Machinery
b) Authority to Board of Directors to make investments and / or grant loans and provide securities in excess of the limits prescribed u/s. 372A of the Companies Act, 1956 subject to aggregate of such investments, loans and advances and securities given shall not exceed Rs 100 Crores.
2. Subject to the approval of the Members at the 26th Annual General Meeting proposed to held on June 20, 2008
a) Re-designated Shri. Rohitashwa Poddar as Managing Director for a fresh term of 5 years
w.e.f. March 31, 2008
b) Appointed Shri. Dipak Kumar Poddar as Executive Chairman for a Term of 3 Years w.e.f. March 31, 2008.
3. Approved Notice of Postal Ballot.
1. Approved, subject to the approval of the members through Postal Ballot:
a) sale of manufacturing Unit at Rabale including Land, building and Plant & Machinery
b) Authority to Board of Directors to make investments and / or grant loans and provide securities in excess of the limits prescribed u/s. 372A of the Companies Act, 1956 subject to aggregate of such investments, loans and advances and securities given shall not exceed Rs 100 Crores.
2. Subject to the approval of the Members at the 26th Annual General Meeting proposed to held on June 20, 2008
a) Re-designated Shri. Rohitashwa Poddar as Managing Director for a fresh term of 5 years
w.e.f. March 31, 2008
b) Appointed Shri. Dipak Kumar Poddar as Executive Chairman for a Term of 3 Years w.e.f. March 31, 2008.
3. Approved Notice of Postal Ballot.
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