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| Exchange Disseminated Time | Standard Industries Ltd has informed BSE that the members of the Company will consider to approve the following Resolutions by way of Postal Ballot:
1. To alter the Articles of Association of the Company by adding the new Articles 119A and 119B after the existing Article 119 in the Articles of Association of the Company.
2. To sell, lease, transfer, assign or otherwise dispose of as a going concern, or otherwise, the Company's Chemical Undertaking at Plot No.4, TTC Industrial Area, Thane Belapur Road, P.0 Ghansoli, New Mumbai, upon the terms and conditions and at a consideration to be mutually agreed upon with any prospective buyer(s), subject to necessary provisions & approvals.
3. To alter the Memorandum of Association of the Company by insertion of the following new sub-clause (13a) after the existing sub-clause 13 in Object Clause of the Memorandum of Association of the Company:
"To build, construct, alter, acquire, convert, improve, explore, design, erect, establish, equip, develop, dismantle, pull down, remove or replace, turn to account enlarge, furnish, level, decorate, furbish, fabricate, install, finish, repair, maintain, search, survey, examine, test, inspect, locate, relocate, modify, own, operate, protect, promote, reconstruct, drill, dig, excavate, pour, renovate, remodel, rebuild, undertake, contribute, assist, maintain, manage, buy, sell, invest in, lease, let on hire, commercialise, handle, control, and to act as builders, civil engineer, architectural engineer, interior decorator, consultant, advisor, agent, broker, supervisor, administrator, contractor, turnkey contractor, manager and dealers in all type of properties, real estate, buildings and structures including Information Technology Park, Software Technology Park, Special Economic Zone (SEZ), economic zones, industrial parks, houses, flats, apartments, buildings, bungalows, cottages, rooms, suites, housing complexes and projects, commercial complexes, offices, godowns, warehouses, shops, factories, sheds, schools, colleges, hospital, hostels, holiday resorts, clubs, hotels, restaurants, baths, places of workship, places of amusement, parks, gardens, stadium, spa, and other works and conveniences, shopping cum residential complexes, malls, hyper market, super market, roadways, tramways, railways, branches or siding, bridges, flyovers, reservoirs, specialised foundations including pile foundations, exploratory borings, watercourses, dams, jetties, berths, harbours, dry docks, marine structures, sea wells landing, canals, drainage, water distribution and filtration systems, docks, piers, irrigation works, foundation works, airports, runways, exploration, mines, quarries, rock drillings, aqueducts, hydraulic units, telephone works, wharves, gas works, power plants, electric works, water works, buildings and erections of every description"
4. To the alternation of the Objects Clause of the Memorandum of Association of the Company as approves the commencing of the business as set out in sub-clause (13a) in Clause III — Objects Clause of the Memorandum of Association of the Company, as amended.
The Board of Directors has appointed Shri. V Laxman, Practising 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 on or before December 15, 2007. The scrutinizer will submit his report to the Shri. Pradeep R Mafatlal, Chairman after completion of the scrutiny and the results of the postal ballot will be announced by the Chairman on December 21, 2007. |
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