Living Room Lifestyle Ltd has informed that the Board of Directors of the Company at its meeting held on June 11, 2008, inter alia, has transacted the following:
1. Has taken on record the results of the postal ballot whereby the members of the Company have approved and passed the following Resolution, with requisite majority:
Resolution pursuant to the provisions of Section 293(1)(a) and other applicable provisions of the Companies Act, 1956, according consent of the Company to the Board of Directors of the Company to transfer / sell off the Undertaking of the Company on as is where is basis in one or more tranche to any interested buyer, as a going concern or otherwise, at such consideration and on such terms and conditions as may be decided by the Board of Directors of the Company.
2. Has authorized Mr. Jehangir Nagree, Chairman and Managing Director to take all steps as may be necessary and expedient for giving effect to the aforesaid resolution.
1. Has taken on record the results of the postal ballot whereby the members of the Company have approved and passed the following Resolution, with requisite majority:
Resolution pursuant to the provisions of Section 293(1)(a) and other applicable provisions of the Companies Act, 1956, according consent of the Company to the Board of Directors of the Company to transfer / sell off the Undertaking of the Company on as is where is basis in one or more tranche to any interested buyer, as a going concern or otherwise, at such consideration and on such terms and conditions as may be decided by the Board of Directors of the Company.
2. Has authorized Mr. Jehangir Nagree, Chairman and Managing Director to take all steps as may be necessary and expedient for giving effect to the aforesaid resolution.
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