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| Exchange Disseminated Time | IVP Ltd has informed BSE that the members of the Company will consider to approve, by way of Postal Ballot, the ordinary resolution to sell, lease or dispose in any other manner of the Company's undertaking commonly known as Industrial Ceramics Division including its manufacturing plant in Aurangabad, engaged in the manufacture of Ceramic products including Thread Guides, Water Pump Seals, Ignitors, Chemical Seal Faces, etc., by way of sale or assignment or otherwise at such consideration to such party on such terms and with effect from such date as the Board of Directors of the Company may think fit and that the Board of Directors (which shall include a Committee of Directors constituted for this purpose) be and is hereby authorized to complete the sale, lease or disposal in any other manner of the said Undertaking with such modifications as may be required by any of the concerned authorities or which it may deem to be in the interest of the Company and to do all such acts, deeds, mailers and things as may be deemed necessary and/or expedient in the interest of the Company.
The Company has appointed an Independent person, as Scrutinizer for conducting Postal Ballot in a fair & transparent manner.
The Postal Ballot forms duly completed should reach the Scrutinizer on or before July 27, 2007. The Scrutinizer will submit his report to the Chairman after completion of scrutiny & the results of the Postal Ballot will be announced on the day of AGM i.e. July 31, 2007. |
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