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| Exchange Disseminated Time | Silveroak Commercials Ltd has informed BSE that the Board of Directors of the Company at its meeting held on January 31, 2014, inter alia, has discussed and transacted the following businesses:
1. Decided to obtain consent of the Members of the Company through Postal Ballot under Section 192A of the Companies Act, 1956, read with Companies (Passing of the Resolution by Postal Ballot) Rules, 2011, for following below mentioned items as under:
a. To borrow money in excess of the aggregate of paid up capital and free Reserves of the Company, pursuant to the provisions of Section 180 (1) (c) of the Companies Act, 2013.
b. To change the object clause in the Memorandum of Association of the Company pursuant to Section 17 and other applicable provisions, if any, of the Companies Act, 1956.
2. The Board of Director decided to defer the issue relating to Reduction of Equity Share Capital pursuant to the provisions of section 100 to 104 of Companies Act 1956. Necessary intimation regarding Reduction of share capital will be given as and when the Board of Directors takes up the issue. |
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