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| Exchange Disseminated Time | Gangotri Textiles Ltd has now informed BSE that the Board of Directors at its meeting held on May 19, 2010 have decided to sell one or more units of the Company for the repayment of the loan borrowed from the consortium Lenders for the project and passed necessary resolution in terms of Section 293 (1) (a) of the Companies Act, 1956 . This resolution was also brought before the Shareholders for their consent in the 21st Annual General Meeting held on September 08, 2010 and obtained the consent of the shareholders. In terms of Section 192 A of the Companies Act, 1956, the resolution under Section 293 (1) (a) are to be passed by means of Postal Ballot.
Accordingly, the Notice pursuant to Section 192 A of the Companies Act, 1956 containing necessary resolution under Section 293 (1) (a) of the Companies Act, 1956 were sent to the Shareholders on February 21, 2011. |
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