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| Exchange Disseminated Time | Phillips Carbon Black Ltd has informed BSE that the members at the Annual General Meeting (AGM) of the Company held on July 29, 2011, inter alia, have accorded to the following:
1. Adoption of the Profit and Loss Account of the Company for the year ended March 31, 2011 and the Balance Sheet as on that date as laid on the table together with the Reports of the Board of Directors and the Auditors thereon.
2. Declaration of dividend for the financial year ended March 31, 2011 at the rate of 50% i.e. Rs 5/- per share.
3. Re-appointment of Mr. O P Malhotra & Dr. Ram S Tarneja, as Directors of the Company.
4. Re-appointment of Messrs. Price Waterhouse, as Auditors of the Company to hold office from the conclusion of this meeting upto the conclusion of the next Annual General Meeting of the Company, on remuneration terms & conditions.
5. Appointment of Mr. Pradip Roy as Director of the Company.
6. For borrowing any sum or sums of money from time to time from any one ore more of the Financial Institutions, Government / Government bodies, Company's Bankers and/or other persons, Firms or Bodies Corporate, whether by way of Term Loans, Cash Credit Advance, Deposits, Bill Discounting or otherwise, and whether unsecured or secured by mortgage, charge hypothecation or lien or pledge of the Company's assets and properties whether movable or stock in trade (including raw materials, stores, spare parts and components in stock or in transit) and work in progress and all or any of the undertakings of the Company notwithstanding that the moneys to be borrowed together with moneys already borrowed by the Company (apart from temporary loans obtained from the Company's bankers in ordinary course of business) will or 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 of Directors and outstanding at any time shall not exceed the sum of Rs 1000/- Crores (Rupees One Thousand Crores only) exclusive of interest. The Board of Directors are hereby further authorised to execute such deeds of debentures and debenture trust deeds for mortgage, charge, hypothecation, lien, promissory notes, deposits receipts and other deeds and instruments or writings as they may think fit and containing such conditions such conditions and covenants as the Board of Directors may think fit and that for the purpose of implementation of this Resolution, the Board may act through any member thereof or any other person duly authorized by the Board in that behalf.
7. Authority to Board to commence and carry on the business as specified in sub-clause (1b)(i) of Clause 3 of Memorandum of Association of the Company, subject to necessary provision & approvals. |
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