| 04-Apr-06 |
| EGM 04/04/2006
1) Increase in the authorised capital
2) Righs Issue.
EGM 04/04/2006
To consider inter alia the following:
1. Increase in the Authorised Share Capital of the Company from Rs 10,00,00,000/- divided into 50,00,000 equity shares of the face value of Rs 10 and 50,00,000 preference shares of the face value of Rs 10 each to Rs 20,00,00,000/- divided into 1,50,00,000 equity shares of the face value of Rs 10 each and 50,00,000 preference shares of the face value of Rs 10 each and consequential amendments in the Memorandum and Articles of the Association of Company, subject to necessary approvals & provisions.
2. To offer, issue and allot up to or as near thereto 36,76,530 equity shares of Rs 10/- for cash, at price (including premium) to be hereinafter decided by the Board, on Rights basis in the ratio of 1:1 equity share for every one equity shares held by shareholders, to the
shareholders whose names appear on the Register of Members or on the list of depositories as beneficial owners, as at the end of the business hours on such date as may hereafter be fixed for the purpose by the Board or to such person or persons who may or may not be shareholders of the Company in whose favour (in full or in part), the rights may be renounced by respective shareholders on such terms and conditions, as the Board may in its absolute discretion think fit in consultation with the Lead Managers, Advisors and / or such other persons as it may think fit subject to necessary approvals & provisions.
3. To borrow such sum or sums of money in any manner from time to time as may be required
for the purposes of business of the Company with or without security and upon such terms and conditions as they may think fit and proper, which sums together with the moneys already borrowed by the Company (apart from temporary loans obtained or 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 that is to say reserves not set apart for any specific purpose provided that the total moneys so borrowed by the Board of Directors and outstanding at any time shall not exceed the sum of Rs 750 million subject to necessary approvals & provisions.
4. For mortgaging and / or charging by the Board of Directors of the Company of all or any of
the immovable and / or movable properties of the Company, both present and future, wheresoever situated and the whole or substantially the whole or any part of the undertaking(s) of the Company with power to take over the management of the business and concern of the Company in certain events of default and on such terms and in such form and manner and with such ranking as to security as the Board of Directors may deem fit and proper for securing loans already obtained or that may hereafter be obtained by the Company
from, to and in favour of banks whether nationalised, foreign, co-operative or scheduled
banks approved by the Reserve Bank of India and all or any of the Public Financial Institutions as may be declared under section 4-A of the Companies Act, 1956 and / or other lending agencies for term loans and / or bridge loans and / or other financial facilities from time to time sanctioned by them to the Company subject to an overall limit of Rs 750 million together with interest, additional / penal interest premia on prepayment, costs, commitment charges, expenses thereon and all other moneys payable by the Company to the concerned lenders.
(As per BSE Bulletin dated on 13/03/2006)
The company has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on April 04, 2006, inter alia, have accorded to the following:
1. Increase in the Authorised Share Capital of the Company from Rs 100 million to Rs 200 million divided into Rs 150 million of equity shares and preference shares of Rs 50 million and consequential amendments in the Memorandum and
Articles of the Association of Company.
2. Authority to the Board to issue and allot 36,76,530 equity shares by way of (1:1) Rights issue at such premium as may be determined by the Board, subject to the necessary approvals & provisions.
3. Authority to the Board to borrow moneys to the extent of Rs 7500 million, subject to necessary approvals & provisions.
4. Authority to the Board to mortgage and / or create charge on the property of the Company both movable and immovable, subject to necessary approvals & provisions.
(As per BSE Bulletin dated on 13/04/2006) |
| 23-Sep-05 |
| EGM 23/09/2005
To consider the Ordinary Resolution in view of the accumulated losses of the Companyas at the end of the financial year ended March 31, 2005 (being the relevant financial year) exceeding fifty per cent of Company's peak net worth during the four immediately preceding financial years, the report explaining the fact of such erosion and the causes thereof.
The company has informed that the members at the Extra Ordinary General Meeting (EGM) of the Company held on September 23, 2005, inter alia, have unanimously passed the Ordinary Resolution in view of the accumulated losses of the Company as at the end of the financial year ended March 31, 2005 (being the relevant financial year) exceeding fifty per cent of Company's peak net worth during the four immediately preceding financial years, the report explaining the fact of such erosion and the causes thereof.
(As per BSe Bulletin dated on 28/09/2005) |
| 14-Mar-05 |
| EGM 14/03/2005
To offer , issue & allot upto 50,00,000 fully paid up preference shares of the company to Amit Choksey, his relatives, associates & nominees at a price to be determined by the Board & as may be accepted by the said Amit Choksey but not less than the par value.
The company has informed that the members at their Extraordinary General Meeting of the Company held on March 14, 2005 have accorded the following:
1. Increase the Authorised Capital from Rs 5,00,00,000/- divided into 50,00,000 equity shares of Rs 10/- each to Rs 10,00,00,000/- divided into 50,00,000 equity shares of Rs 10/- each and 50,00,000 preference shares of Rs 10 each and,
2. To make necessary amendments to Memorandum of Association & Articles of Association of the Company.
3. To offer, issue and allot upto 50,00,000 fully paid-up preference shares of the face value of Rs 10 each of the Company to Amit Choksey, his relatives, associates and nominees at such time or times in one or more tranche(s) and on the terms and conditions and at a price to be determined by the Board.
Further the Company has informed that the Board of Directors of the Company at its meeting held on March 14, 2005 (after the Extraordinary General Meeting of the Shareholders), have decided the following:
1. Offer to M/s. Amit Choksey, his relatives, associates and nominees for the issue of 50,00,000 7% p.a. Non-cumulative Redeemable Preference Shares of Rs 10/- each for cash at par aggregating to Rs 5,00,00,000 in one or more tranche(s)
and,
2. To take needful act on so as to give effect to the alterations in Memorandum of Association and Articles of Association of the Company as approved by the shareholders at the Extra Ordinary General Meeting.
The above matter was done, to implement the decisions taken at the Extraordinary General Meeting.
(As pe BSE Bulletin dated on 17/03/2005) |
| 10-Mar-05 |
| EGM 10/03/2005
Getting approval from the shareholders of the Company to:
1. Increase the Authorised Capital from 5,00,00,000/- divided into 50,00,000 equity shares of the face value of Rs 10/- each to Rs 10,00,00,000/- divided into 50,00,000 equity shares of the face value of Rs 10/- each and 50,00,000 preference shares of the face value of Rs 10 each.
2. Make amendments to Memorandum of Association & Articles of Association of the Company. |