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| Exchange Disseminated Time | Indo Count Industries Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on March 26, 2011, at the Registered Office of the Company, at Village Alte, Taluka Hatkanangale, Dist. Kolhapur 416 109, inter alia, has accorded the following:
1. Accorded to the Board to create, offer, issue and allot, in one or more tranches, 25,00,000 Preference Shares of Rs. 10/- each for each at par aggregating Rs. 2.50 Crore to M/s. Tozoi Enterprises Pvt. Ltd., a Promoters’ Associate, on a preferential basis, subject to necessary provisions & approvals.
2. Accorded for payment of Remuneration to Mr. Anil Kumar Jain, as Chairman and Managing Director with effect from April 01, 2011 to September 30, 2013, on necessary terms & conditions.
3. Accorded for payment of Remuneration to Mr. R N Gupta, as Joint Managing Director with effect from January 01, 2011 to September 30, 2013, upon such necessary terms and conditions.
4. Accorded for payment of Remuneration to Mr. K R Lalpuria as Executive Director with effect from January 01, 2011 to September 30, 2013, upon such necessary terms and conditions.
5. Appointment of Mr. Mohit Kumar Jain as "Marketing Consultant" for a period of 3 years, on a revised remuneration, terms & conditions.
6. Accorded for mortgaging and/or charging (by way of second charge as has been agreed to between the Company and the Lenders) by the Board of Directors of the Company, of oil the immoveable and movable properties of the Company, present and future, whosesoever situate, and the whole of the undertaking of the Company, in favour of Security Trustees/Security Agent/Banks, on behalf of the following Banks to secure the additional working capital facilities granted/to be granted detailed as under:
i. Name of the Bank: Bank of India
- Amount Rs in Crore: 15.24
ii. Name of the Bank: Bank of Baroda
- Amount Rs in Crore: 7.62
iii. Name of the Bank: Canara Bank
- Amount Rs in Crore: 15.56
iv. Name of the Bank: Union Bank of India
- Amount Rs in Crore: 27.08
on such terms and conditions and in such form and in such manner as the Board of Directors of the Company may decide in the interest of the Company / with full power and authority to the Board of Directors to do all such acts, deeds and things as may be necessary to implement this resolution, subject to necessary provisions & approvals. |
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