Bajaj Hindusthan Sugar Board To Consider Dividend - Dec 12, 2008

Bajaj Hindusthan Sugar & Industries Ltd has informed that a meeting of the Board of Directors of the Company will be held on December 20, 2008, inter alia, to consider and discuss the Audited Annual Accounts, Auditors Report, Directors Report (including Management Discussion and Analysis Report), Report of Corporate Governance, recommendation of dividend (if any), annual audited financial results, etc.

For the financial year ended on September 30, 2008 and the 38th Annual General Meeting of the shareholders of the Company.Further the Company has informed that, a meeting of the Audit Committee of Directors will also be held on the same date immediately before the afore-mentioned Board Meeting to discuss the aforesaid Annual Audited Accounts.

Bajaj Hindusthan Sugar - Outcome Of Board Meeting - Sep 22, 2008

Bajaj Hindusthan Sugar & Industries Ltd has informed that the Board of Directors of the Company at its meeting held on September 20, 2008, inter alia, has transacted the following:
1. Approved the accounts for Income-tax year ended March 31, 2008 for limited purpose of complying with the provisions of the Income Tax Act, 1961.
2. Considered and approved a Scheme of Arrangement, subject to various approvals of the Shareholders and Creditors of the respective Companies, the High Courts of judicature at Delhi and Bombay, Stock Exchanges and other concerned authorities, inter alia, comprising of:
(a) merger of Phenil Sugars Pvt. Ltd, which is presently holding mote than 99% shares in two Companies having one sugar plant each of the capacity of 6000 TCD located in the State of Uttar Pradesh. The appointed dated of merger is proposed to be April 01, 2008. The merger envisages a share exchange ratio of One (1) equity share of Bajaj Hindusthan Sugar and Industries Ltd of Re 1/- each fully paid up for every two (2) equity share of Phenil Sugars Pvt. Ltd of Rs 10/- each fully paid up, which has been determined in accordance with best practices in valuation using the relative Market Prices (MV) Method, Net Asset Value (NAV) Method and Comparable Companies Multiple (CCM) Method.
(b) conversion into Zero Coupon Secured Optionally Convertible Securities of certain loan including interest thereon togetherwith the loans taken over by it from its future subsidiaries due to Bajaj Hindusthan Ltd.
The Scheme will be filed with the Stock Exchanges for approval, at least a month before it is presented, before the High Courts of Delhi and Bombay and subsequently placed for approval at the meeting of shareholders of the respective Companies

Bajaj Hindusthan - Outcome Of AGM

Bajaj Hindusthan Ltd has informed that the members at the 76th Annual General Meeting (AGM) of the Company held on February 26, 2008, inter alia, have approved the following:

1. Audited Balance sheet as on September 30, 2007, the Profit and Loss account and cash Flow statement for the year ended on that date and the reports of Directors and Auditors report thereon.

2. Dividend at the rate of 60% (Rs 0.60 per Share) on Equity Shares of Re 1/- each for the year ended September 30, 2007.

3. Re-appointment of Mr. Suresh A Kotak & Mr. Ravindrakumar V Ruia as Directors of the Company, liable to retire by rotation.

4. Re-appointment of M/s. Dalal & Shah, as Statutory Auditors to hold office from the conclusion of this Annual General Meeting until the conclusion of the next (77th) Annual General Meeting of the Company.

5. Appointment of Mr. Alok Krishna Agarwal as Director of the Company, liable to retire by rotation.

6. Appointment of Mr. Kushagra Bajaj as Director of the Company, not liable to retire by rotation.

7. Appointment and Remuneration of Mr. Kushagra Bajaj as Joint Managing Director of the Company for 5 year w.e.f. April 24, 2007.

8. Revision in remuneration of Mr. Shishir Bajaj as Chairman & Managing Director of the Company.

9. Payment of the existing remuneration as the Minimum Remuneration in terms of the requirement of Schedule XIII to the Companies Act, 1956 to Mr. I D Mittal, Chief Executive Director during October 01, 2006 to October 18, 2007.