|Galaxy Agrico Exports Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 01, 2012, has transacted the following:
The authority to issue the notice for calling Extra Ordinary General Meeting scheduled to be held on March 31, 2012, is given to Mr. Manojbhai Shah - A Whole time Director.
Galaxy Agrico Exports Ltd has informed BSE that the Extra Ordinary General Meeting (EGM) of the Company will be held on March 31, 2012, inter alia, to transact the following:
1. To re-appoint of Mr. Jayantilal D. Patel as Managing Director of the Company for a period of Five years with effect from April 01, 2012, on remuneration, terms & conditions.
2. To borrow any sum or sums of moneys for and on behalf of the Company, from time to time from any one or more persons, firms, bodies corporate, bankers, financial institutions, or from others by way of advances, deposits, loans or otherwise and whether unsecured or secured by mortgage) charge, hypothecation or lien or pledge of the Company's assets and properties, whether movable or immovable or stock-in process and debts, advances notwithstanding that the sum or sums of moneys so borrowed together with moneys, if any, already borrowed by the Company (apart from the temporary loans obtained from the Company's bankers in the ordinary course of business] will or may exceed the aggregate of the paid up capital of the Company and its free reserves which have not been set apart for any specific purpose, provided that the total amount up to which the moneys may be borrowed shall not exceed Rs. 25 crores (Rupees Twenty Five Crores) any point of time on account of the principal.
(As Per BSE Announcement Website dated on 13.03.2012)