| Pipavav Shipyard Ltd has informed BSE that the Register of Members & Share Transfer Books of the Company will remain closed from September 27, 2011 to September 29, 2011 (both days inclusive) for the purpose of 14th Annual General Meeting (AGM) of the Company to be held on October 05, 2011.
Pipavav Shipyard Ltd has informed BSE that the 14th Annual General Meeting (AGM) of the Company will be held on October 05, 2011, at Pipavav Port, Post Ucchaiya, Via Rajula, District Amreli 365 560, Gujarat, India, at 10.00 A.M., inter alia, to transact the following:
1. To receive, consider and adopt the audited Balance Sheet as at March 31, 2011 and the Profit and Loss Account for the year ended on that date together with the Reports of the Auditors and Board of Directors thereon.
2. To appoint a Director in place of Mr. Nikhil Gandhi, who retires by rotation and being eligible offers himself for re-appointment.
3. To appoint a Director in place of Mr. R. M. Premkumar, who retires by rotation and being eligible offers himself for reappointment.
4. To appoint M/s. Chaturvedi & Shah, Chartered Accountants (Registration No. 101720W), as Statutory Auditors to hold office from the conclusion of the ensuing Annual General Meeting (AGM) until the conclusion of the next Annual General Meeting (AGM) and to determine their remuneration.
5. Authority to the Board of Directors, the Chairman and/ or the Executive Vice-Chairman of the Company to contribute and/ or subscribe on behalf of the Company to charitable and other funds not directly relating to the business of the Company or the welfare of its employees including for corporate social responsibility initiatives of the Company, any amount(s) in a financial year not exceeding in the aggregate 1% (one per cent) of the total turnover in the relevant financial year or Rupees Ten Crore, whichever is higher.
6. To pay to Mr. Bhavesh Gandhi, Whole-Time Director designated as Executive Vice-Chairman, performance incentive of Rs. 1,50,00,000/- (Rupees One Crore Fifty Lac only) for the financial year 2010-11, payable during or after the financial year 2011-12, in addition to remuneration already approved by the Members vide Special Resolution passed at the Extraordinary General Meeting held on October 17, 2008, subject to necessary provisions and approvals.
7. To pay remuneration to Mr. Bhavesh Gandhi, Whole-Time Director designated as Executive Vice-Chairman, for the period commencing from January 1, 2012 and expiring on March 31, 2013, subject to necessary provisions and approvals.
8. To increase the amount to be paid to each of the non-executive Directors by way of sitting fees for attending each meeting of the Board of Directors or a committee thereof, from existing Rs. 10,000/- (Rupees Ten Thousand only) to Rs. 20,000/- (Rupees Twenty Thousand only) or to such maximum limit as may be prescribed by the Central Government from time to time.
9. Authority to the Board of Directors to borrow, from time to time, any sum or sums of monies (including External Commercial Borrowings) for the business of the Company from any one or more banks/ financial institutions, foreign institutional investors, foreign companies or bodies corporate on such terms and conditions as may be deemed appropriate and at its absolute discretion, which monies together with the monies already borrowed by the Company (apart from temporary loans obtained/ to be obtained from the Company?s bankers in the ordinary course of business), may exceed the aggregate of the paid-up share capital of the Company and its free reserves (i.e. reserves not set apart for any specific purpose) provided that the total amount so borrowed by the Board and outstanding at any time shall not exceed the limit of Rs. 5,000 crore (Rupees Five Thousand crore only).
10. To create, offer, issue and allot for cash to the below mentioned proposed allottees, as permitted under applicable laws, regulations, policies and/ or guidelines, including the SEBI Regulations, upto 1,05,00,000 (One Crore Five Lacs) convertible warrants [hereinafter referred to as {Warrant(s)}] on a preferential basis of the face value of Rs. 78/- (Rupees Seventy Eight only), each Warrant being convertible into 1 (One) fully paid-up equity share of the Company of the nominal value of Rs.10/- (Rupees Ten only) each, at a premium of Rs. 68/- (Rupees Sixty Eight only) aggregating to Rs. 81,90,00,000/- (Rupees Eighty One Crore Ninety Lacs only), on such further terms and conditions as may be decided and deemed appropriate by the Board at the time of issue or allotment.
11. To create, offer, issue and allot for cash to Grevek Investments and Finance Private Limited, one of the Promoters of the Company, as permitted under applicable laws, regulations, policies and/ or guidelines, including the SEBI Regulations, upto 1,00,00,000 (One Crore) convertible warrants [hereinafter referred to as {Warrant(s)}] on a preferential basis of the face value of Rs. 78/- (Rupees Seventy Eight only), each Warrant being convertible into 1 (One) fully paid-up equity share of the Company of the nominal value of Rs.10/- (Rupees Ten only) each, at a premium of Rs. 68/- (Rupees Sixty Eight only) aggregating to Rs. 78,00,00,000/- (Rupees Seventy Eight Crore only), on such further terms and conditions as may be decided and deemed appropriate by the Board at the time of issue or allotment.
Pipavav Defence and Offshore Engineering Company Ltd has informed BSE that the members at the 14th Annual General Meeting (AGM) of the Company held on October 05, 2011, inter alia, have passed all the resolutions as set out in the Notice dated September 06, 2011, with requisite majority.
(As Per BSE Announcement Dated on 07.10.2011) |
| Pipavav Shipyard Ltd has informed BSE that the Register of Members & Share Transfer Books of the Company will remain closed from August 21, 2010 to August 25, 2010 (both days inclusive) for the purpose of 13th Annual General Meeting (AGM) of the Company to be held on August 25, 2010.
Pipavav Shipyard Ltd has informed BSE that the members at the Annual General Meeting (AGM) of the Company held on August 25, 2010, inter alia, have accorded to the following :
1. Adoption of the Audited Balance Sheet as at March 31, 2010 and the Profit and Loss Account for the year ended on that date along with all the Annexures thereto including the Reports of the Auditors and Directors thereon.
2. Re-appointment of Mr. S. Venkiteswaran, who is a Non-Executive Independent Director, as a Director of the Company, liable to retire by rotation.
3. Appointment of Messrs. Chaturvedi & Shah, Chartered Accountants, as Statutory Auditors of the Company from the conclusion of this Annual General Meeting until the conclusion of the next Annual General Meeting of the Company.
4. Ratification and approval of the allotment of 2,54,00,000 (Two Crore Fifty Four Lacs) 10% Fully, Compulsorily and Mandatorily Convertible Unsecured Debentures of the face value of Rs. 70/- (Rupees Seventy Only) to Valiant Mauritius Partners FDI Ltd, on all other terms and conditions as approved by the shareholders at the Extraordinary General Meeting of the Company, held on May 05, 2010.
5. Amendment of the Articles of Association of the Company by replacing existing Article 13 A with a new Article 13A.
6. Approval of Performance Incentive payable to Mr. Bhavesh Gandhi, Executive Vice-Chairman of the Company for the financial year 2009-10, in addition to the remuneration approved by the shareholders vide Special Resolution passed at the Extra-ordinary General Meeting of the Company held on October 17, 2008.
(As Per BSE Announcement Dated on 30.08.2010) |