Monnet Ispat Ltd has informed that the Board of Directors of the Company at its meeting held on August 18, 2008, inter alia, has proposed to obtain the consent of the shareholders:
a) By way of postal ballot process in respect of increasing the powers under Section 293 (1) (a) with regard to mortgaging / charging the assets of the Company.
b) By way of ordinary resolutions for increasing the borrowing powers of the Company; and
c) By way of ordinary resolution for alteration of articles of association of the Company.
The Company has appointed M/s. Sanjay Grover & Associates, Company Secretaries, as the Scrutinizer for conducting the Postal Ballot process in a fair and transparent manner. The results of the Postal Ballot will be declared on September 30, 2008 in the 18th Annual General Meeting of the Company.
a) By way of postal ballot process in respect of increasing the powers under Section 293 (1) (a) with regard to mortgaging / charging the assets of the Company.
b) By way of ordinary resolutions for increasing the borrowing powers of the Company; and
c) By way of ordinary resolution for alteration of articles of association of the Company.
The Company has appointed M/s. Sanjay Grover & Associates, Company Secretaries, as the Scrutinizer for conducting the Postal Ballot process in a fair and transparent manner. The results of the Postal Ballot will be declared on September 30, 2008 in the 18th Annual General Meeting of the Company.
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