| 18-Dec-10 |
| Rico Auto Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 12, 2010, inter alia, have approved the following:
The proposal to increase the non-funded and funded borrowing powers of the Company from Rs. 600.00 Crores to Rs. 900.00 Crores and to create charge/mortgage on the assets of the Company upto Rs. 900.00 Crores, subject to the approval of the Shareholders and any other regulatory authorities. For the purpose, an Extra Ordinary General Meeting of the Shareholders has been fixed on December 18, 2010.
Rico Auto Industries Ltd has informed BSE that the Extra Ordinary General Meeting (EGM) of the Company will be held on December 18, 2010, inter alia, to transact the following :
1. Authority to the Board of Directors of the Company including committee thereof ('the Board') to borrow any sum or sums of money (including non-fund based facilities) from time to time from any one or more of the Company's Bankers and/or from any one or more, firms, bodies corporate (Indian or Overseas), financial institutions (Indian or Foreign), Nonresident Indians or Foreign Nationals or other persons whether by way of Advance, Deposits, Loans, External Commercial Borrowings (ECB) including other modes of External Borrowings, Debentures or other debt instruments or otherwise and whether unsecured or secured notwithstanding that the moneys to be borrowed together with moneys already borrowed by the Company (apart from temporary loans obtained from Company's Bankers in the ordinary course of business) may exceed the aggregate of the paid-up capital of the Company and its free reserves, that is to say, reserves not set apart for any specific purpose but so however that the total amount upto which the moneys may be borrowed by the Board and outstanding at any point of time shall not exceed in aggregate the limit of Rs.900.00 Crores (Rupees Nine hundred crores only) as against Rs.600.00 Crores (Rupees Six hundred crores only) approved by the members in the 23rd Annual General Meeting of the Company held on September 30, 2006, subject to necessary provisions and approvals.
2. Authority to the Board of Directors of the Company including committee thereof ('the Board') to mortgage and/or charge, in addition to the existing mortgages/charges created by the Company, in such form and manner and with such ranking and at such time and on such terms as the Board may determine, on all or any of the movable and/or immovable properties, both present and future of the Company and/or conferring power to enter upon and to take possession of the assets of the Company and/or to take over the management of the business or concern of the Company in certain eventualities to or in favour of the Lender(s), Agent(s) and Trustee(s) for securing the borrowings of the Company availed/to be availed by way of Advance, Deposits, Loans, External Commercial Borrowings (ECB) including other modes of External Borrowings, Debentures or other debt instruments or otherwise, to be issued by the Company, from time to time on private placement basis or otherwise so however that the overall limit shall not exceed the limit of Rs.900.00 Crores (Rupees Nine hundred crores only) at any point of time together with interest at the respective agreed rates, additional interest, compound interest in case of default, accumulated interest, liquidated damages, commitment charges, premia on prepayment, remuneration of the Agent(s)/Trustee(s), premium (if any) on redemption, all other costs, charges and expenses, including any increase as a result of devaluation/revaluation/fluctuation in the rates of exchange and all other monies payable by the Company in terms of the Letters of Sanctions, Loan Agreement(s)/ Heads of Agreement(s), Debenture Trust Deed(s) or any other document, entered into between the Company and the Lender(s), Agent(s) and Trustee(s), in respect of the said borrowings and containing such specific terms and conditions and covenants in respect of enforcement of security as may be stipulated in that behalf and agreed to between the Board and the Lender(s), Agent(s) and Trustee(s), as against Rs.600.00 Crores (Rupees Six hundred crores only) approved by the members at the 23rd Annual General Meeting of the Company held on September 30, 2006, subject to necessary provisions and approvals.
(As Per BSE Announcement Dated on 25.11.2010)
Rico Auto Industries Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on December 18, 2010, have approved the following:
1. Increase in Borrowing Limits from Rs. 600.00 Crores to Rs. 900.00 Crores (U/S 293(1)(d)).
2. Creation of charge over fixed assets for the increase in borrowing limits from Rs. 600.00 Crores to Rs. 900.00 Crores (U/S 293(1)(a)).
(As Per BSE Announcement Website dated on 18.12.2010) |
| 27-Jun-09 |
| Rico Auto Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 30, 2009, inter alia, has considered and approved the following:
1. The proposal for issue of upto 1,21,80,000 (One crore twenty one lacs eighty thousand only) Convertible Warrants to the Promoter Group on preferential allotment basis in terms of Chapter XIII of SEBI (Disclosure and Protection) Guidelines, 2000 and subject to the approval of the Shareholders and any other regulatory authorities.
2. The Notice to convene Extra Ordinary General Meeting of the Shareholders on June 27, 2009.
Rico Auto Industries Ltd has informed BSE that the Extra Ordinary General Meeting (EGM) of the Company will be held on June 27, 2009, inter alia, to create, issue, offer and allot upto 1,21,80,000 (One crore twenty one lacs eighty thousand only) Convertible Warrants ('Warrants') to M/s. Kapsons Associates Investments Pvt. Ltd, the Promoter Group Company (arrant holder') on preferential allotment basis which shall be convertible in one or more tranches at the option of the Warrant holder into equivalent number of Equity Shares of Re 1/- (Rupee One only) each at an Exercise Price of Rs 17.50 (Rupees Seventeen and paise Fifty only) per share (including premium of Rs 16.50), being the price which is in accordance with the SEBI (Disclosure and Investor Protection) Guidelines, 2000 as amended from time to time, within a period not exceeding 18 (Eighteen) months from the date of allotment of Warrants and to issue and allot fresh Equity Shares on conversion of the aforesaid Warrants on such further terms and conditions as may be finalised by the Board, subject to necessary provisions & approvals.
(As Per BSE Announcement Website dated on 11.06.2009)
Rico Auto Industries Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on June 27, 2009, inter alia, have passed the following resolution as Special Resolution in respect of the following stated below:
- Issuance of upto 1,21,80,000 (One crore twenty one lacs eighty thousand only) Convertible Warrants to the Promoter Group on preferential allotment basis in terms of Chapter XIII of SEBI (Disclosure and Protection) Guidelines, 2000.
(As Per BSE Announcement Website dated on 30.06.2009) |
| 27-Mar-06 |
| Board has approved the following:
1. Enhancement of existing limits from 24% to 40% of the issued and paid-up equity share capital of the Company for the purpose of investment by Foreign Institutional Investors (FIIs) through Stock Exchanges in India under Portfolio Investment Scheme,subject to the approval of the shareholders and other authorities, if any.
2. Convening of Extra Ordinary General Meeting of the Shareholders on March 27, 2006 for the approval of aforesaid proposal.
EGM 27/03/2006
Approval for Enhancement of existing limits from 24% to 40% of the issued and paid-up equity share capital of the Company for the purpose of investment by Foreign InstitutionalInvestors (FIIs) through Stock Exchanges in India under Portfolio Investment Scheme, subject to the approval of the shareholders and other authorities, if any.
EGM 27/03/2006
To consider the following:
To consider the resolution to allow the Foreign Institutional Investors (FIIs), including their
sub-accounts through Stock Exchanges in India under Portfolio Investment Scheme, to acquire and hold equity shares of the Company, upto an aggregate limit of 40% of the paid up equity share capital of the Company.
(As per BSE Bulletin dated on 08/03/2006)
Rico Auto Industries Ltd has submitted to the Exchange a copy of the Notice of the EGM to be
held on March 27, 2006.
(As per NSE Bulletin dated on 08/03/2006)
Rico Auto Industries Ltd has informed the Exchange that the EGM of the Company has
been held on March 27, 2006 and the following resolution has been passed :- (1) Increase in investment Limit of Foreign Institutional Investors (FIIs) from 24% to 40% of paid-up Equity Share Capital of the Company. (At present
the Paid-up Equity Share Capital is Rs.12,25,85,000/-).
(As per NSE Bulletin dated on 27/03/2006)
The Compnay has informed that the members at the Extra Ordinary General Meeting (EGM) of the Company held on March 27, 2006, inter alia, have passed the Special Resolution for increase in Investment Limit of Foreign Institutional
Investors (FIIs) from 24% to 40% of Paid-up Equity Share Capital of the Company. (At present the paid-up Equityshare Capital is Rs 12,25,85,000/-).
(As per BSE bulletin dated on 28/03/2006) |
| 04-Jun-05 |
| Board has approved the following:
1. Issue of up to 15415000 Equity Shares of Re 1 each at a price of Rs 67/- per share to the following institutional investors / entities in the proportion mentioned below on a
preferential allotment basis subject to approval of the shareholders and other statutory
regulatory approvals and to such other compliances as may be required / applicable:
a. M/s Morgan Stanley Investment Fund :- 56,00,000 shares
b. M/s Morgan Stanley Mutual Fund :- 44,00,000 shares
c. M/s New Vernon Bharat Ltd :- 34,45,000 shares
d. M/s Bessemer Venture Partnership Ltd :- 19,70,000 shares
2. Issue of up to 3000000 Warrants which are
convertible / exchanged with Equity Shares of Re 1 each at a price of Rs 67/- pershare to the following promoters / their associates in the proportion mentioned below on a preferential allotment basis subject to approval of the shareholders and other statutory authorities, if necessary:
a. Mr. Arvind Kapur, Promoter Director :- 1200000 Warrants
b. Mr. Arun Kapur, Promoter Director :- 900000 Warrants
c. M/s. Kapsons Associates Pvt Ltd, Associate Co. :- 900000 Warrants
The proposed acquisition by promoters shall constitute around 2.39% the expanded
capital.
Further the Company has informed that the Board has called for an Extra Ordinary General Meeting of the shareholders on June 04, 2005 to approve the issue of shares on a preferential basis.
EGM 04/06/2005
Rico Auto Industries Ltd has submitted to the Exchange a copy of the notice of EGM to be held
on June 04,2005 regarding the proposal to raise additional equity capital by way of a preferential allotment of equity shares and/or warrants to Institutional Investors/Promoters Group.
(As per NSE bulletin dated on 16/05/2005)
The company has informed that at the EGM of the company held on 4th June, 2005 the company has inter alia, approved the following:
1. Issue of 1,54,15,000 Equity shares of Rs.1/- each on Preferential basis to the following @Rs.67/- per share (including premium of Rs.66/- per share):
a. Morgan Stanley India Investment Ltd. - 56,00,000 shares
b. Morgan Stanley Mutual Fund - 44,00,000 shares
c. New Vernon Bharat Ltd. - 34,45,000 shares
d. Bessemer Venture Partners Ltd. - 19,70,000 shares
2. Issure of 30,00,000 Convertible Warrants to the following Promoter Group:
a. Shri Arvind Kapur - 12,00,000 warrants
b. Shri Arun Kapur - 9,00,000 warrants
c. Kapsons Associates Pvt. Ltd. - 9,00,000 warrants
The above warrants will be converted into One Equity share @Rs.67/- per share (including premium of Rs.66/- per share) within 18 months from the date of Allotment of Warrants.
(As per BSE bulletin dated on 06/06/2005) |
| 21-Feb-05 |
| EGM 21/02/2005
1. Sub division of equity shaers from Rs.10/- to Re.1/- each.
2. To borrow money, total amountshall not exceed the limit of Rs.300 crores.
EGM 21/02/2005
To approve the following:
1. Alteration of Articles of Association of the Company.
2. Sub-division of 1 (one) equity share of the Company having a nominal face value of Rs.10 /- per share into 10 (ten) equity shares having a nominal face value of Re 1 (one) per share and consequential alteration of capital clauses in the Memorandum and Articles of Association of the Company.
3. Increase in Authorised Share Capital of the Company from Rs 16,00,00,000/- divided into
11,00,00,000 equity shares of Re 1 each and 50,00,000 Redeemable Preference Shares of
Rs.10/- each to Rs 30,00,00,000/- divided into 25,00,00,000 equity shares of Re.1/- each and
50,00,000 Redeemable Preference Shares of Rs 10/- each by creation of 14,00,00,000 equity shares of Re.1/- each and consequential alteration in Memorandum of Association of the Company.
4. Authority to the Board to borrow any sum or sums of money from time to time whether by
way of Advance, Deposits, Loans, External Commercial Borrowings (ECB) including other
modes of External Borrowings, Debentures or otherwise and whether unsecured or secured
notwithstanding that the moneys to be borrowed together with moneys already borrowed by
the Company may exceed the aggregate of the paid-up capital of the Company and its free
reserves, that is to say, reserves not set apart for any specific purpose but so however that
the total amount upto which the moneys may be borrowed by the Board and outstanding at
any point of time shall not exceed in aggregate the limit of Rs 3000 million exclusive of interest
and other charges whatsoever connected with the aforesaid loans, as against Rs 2000 million
approved by the members in the 20th Annual General Meeting of the Company held on September 15, 2003".
5. Authority to the Board to mortgage and/or charge, in addition to the existing mortgages/charges created by the Company, on all or any of the moveable and/or immovableproperties, in favour of the Lender(s), Agent(s) and Trustee(s) for securing the borrowings of the Company availed/to be availed by way of loan(s)
including External Commercial Borrowings (ECB) and other mode of External Borrowings and Debentures or other instruments, issued/to be issued by the Company, from time to time on private placement basis or otherwise so however that the overall limit shall not exceed the limit of Rs 3000 million at any point of time excluding interest
and other charges, as against Rs 2000 million approved by the members at the 20th Annual General Meeting of the Company held on September 15, 2003".
(As pe BSE bulletin dated on 03/02/2005)
The Company has informed that the members at the Extra Ordinary General Meeting (EGM) of the Company held on February 21, 2005, inter alia, have approved the following:
1. Alteration in Articles of Association.
2. Sub-division (split) of Equity Shares of the nominal value of Rs 10/- (Rupees Ten) each into the Equity Shares of the nominal value of Re l (Rupee One) each.
3. Increase in Authorised Share Capital from Rs 160 million to Rs 300 million (Clause V of Memorandum and Articles of Association).
4. Alteration of Article 3(a) in Articles of Association regarding the increase in Authorised Share Capital.
5. Increase in Borrowing Limits from Rs 2000 million to Rs 3000 million (U/S 293(1)(d)).
6. Creation of charge over fixed assets for the Increase in borrowing limits from Rs 2000 million to Rs 3000 million (U/S 293(1)(a)).
7. Appointment of Ms. Shikha Kapur, daughter of Shri Arvind Kapur, Managing Director as an Advisor (Corporate Affairs).
(As per BSE Bulletin dated on 22/02/2005)
Rico Auto Industries Ltd has informed the Exchange that at the EGM of the company held on February 21, 2005, the following resolutions have been approved:
1) Alteration in Articles of Association;
2) Sub-division (split) of Equity Shares of the nominal value of Rs.10/- each into the Equity Shares of the nominal value of Re.1 each;
3) Increase in Authorised Share Capital from Rs.16 Crores to Rs.30 Crores (Clause V of Memorndum and Articles of Association);
4) Alteration of Article 3(a) in Articles of Association regarding the increase in Authorised Share Capital;
5) Increase in Borrowing Limits from Rs.200 Crores to Rs.300 Crores (U/S 293(1)(d);
6) Creation of charge over fixed assets for the increase in borrowing limits from Rs.200 Crores to Rs.300 Crores (U/S 293(1)(a);
7) Appointment of Ms. Shikha Kapur, daughter of Shri Arvind Kapur, Managing Director as an Advisor (Corporate Affairs);
8) Payment of Sitting Fee to Non-Executive
Directors as per revised clause 49 of the Listing Agreement.
(As per NSE Bulletin dated on 22/02/2005) |