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| Exchange Disseminated Time | Birla Ericsson Optical Ltd has informed BSE that the members of the Company will consider to approve by way of Postal Ballot the Special Resolution relating to make / give from time to time any loan(s) / revolving loans / advances / deposits to any other body corporate and to give any guarantee and / or provide any security (including by way of pledge of shares or other securities held by the Company in any other body corporate) in connection with a loan made by any other person to or to any other person by any body corporate, from time to time and in particular to enter into the transactions of the above nature. with Vindhya Telelinks Ltd, a co-promoter and associate company in anyone or more combination(s) thereof, subject to a monetary limit of Rs. 1150 Crores (Rupees One Thousand One Hundred Fifty Crores only) notwithstanding the fact that the aggregate of all the investments, loans, guarantees or securities so far given and / or proposed to be given, and / or securities so far acquired or to be acquired in all bodies corporate may exceed the limits prescribed under section 372A of the Companies Act, 1956, subject to necessary provisions & approvals.
The Board of Directors has appointed Mr. Rajesh Kumar Mishra, Practicing Company Secretary as the Scrutinizer for conducting the Postal Ballot process in a fair and transparent manner.
The Postal Ballot form duly completed should reach the scrutinizer not later than the close of working hours on April 02, 2011. The result of the Postal Ballot shall be declared by the Chairman, or in his absence by any other person, so authorised by the Chairman on April 11, 2011. |
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