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| Exchange Disseminated Time | Alpine Housing Development Corporation Ltd has informed BSE that the members at the 15th Annual General Meeting (AGM) of the Company held on September 29, 2008, inter alia, have accorded to the following:
1. Adoption of the Balance Sheet, Profit and Loss Account, Director’s Report and Auditors
Report for the year ended March 31, 2008.
2. Mr. M K Ramachandra & Mr. K N Guja who retires by rotation and being eligible for reappointment is hereby elected as Directors of the Company.
3. Payment of Dividend @ 12.5% on the fully paid up Equity Shares of Rs 10 each of the Company for the financial year 2007-08.
5. Reappointment of M/s. Rao & Venkatesulu, Chartered Accountants, Bangalore as Statutory Auditors of the Company, to hold the office of the auditors from conclusion of this meeting to the next annual general meeting of the Company.
6. Alteration in Memorandum of Association of the Company by insertion of sub clauses 6,7,8 & 9 for Steel Industry after sub-clause 5 as follows :
"6. To carry on the business of manufacturing, producing, crushing, acquiring, importing, exporting, buying, selling, treating, processing, developing, retreating, storing, distributing, transporting, and otherwise dealing in all kinds and classes of pig iron, sponge, iron and steels of all kinds, ferrous metal and alloys, iron & metal scrap, ferro-alloys, cast iron and steel, metal goods, tools and implements of all kinds, billets, pre-reduced billets, ingots and bass.
7. To set up any mineral based industry to manufacture or process minerals, purchase, take on lease, or otherwise acquire any mines, mining rights and metallurgies land in Karnataka or anywhere and any interest therein and to explore, work, exercise, develop and turn to account the same.
8. To act as a consultant, construction advisor to any plant whether in India or abroad for manufacturing, producing, treating, processing, developing all kinds of non-ferrous metals pig iron, sponge iron, steel and metal goods. To co-generate, generate electricity through conventional or non conventional means from raw material or waste heat or form any other material for selling to the outside buyers or for its own consumption, to continuously invest in research activities for diversifying, improving, production, maintenance and growth of the Company.
9. To Search for, get, work, raise, make merchantable, sell and deal in iron, coal iron stone, Brick earth, Fire clay, Limestone, Dolomite, Quartz, Quartzite manganese, asbestos and other metals, mineral and substances and to manufacture and sell fuel and other products."
7. Alteration of Clause 78 of Article of Association of the Company for increase in sitting fees of directors.
8. Appointment of Nand Kishore Malu as Director of the Company, liable to retire by rotation.
9. Authority to the Board to borrow, from time to time, as it may consider fit, any sums of money, on such terms and conditions as the Board may deem fit notwithstanding that the monies to be borrowed together with the moneys already borrowed by the Company (apart from temporary loans obtained from the Company’s Bankers / Financial Institute in the ordinary course of business) will exceed of the aggregate of the paid-up Capital of the Company and its free reserves, that is to say, reserves not set apart for any specific purpose so that the total amount of moneys so borrowed at any time shall not exceed the sum of Rs 100 Crores at any one time, subject to necessary approvals and conditions. |
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