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| Exchange Disseminated Time | Ashika Credit Capital Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 12, 2014, inter alia, has taken following decisions :
1. The Board has re-constituted the Stakeholder Relationship committee in accordance with provisions of Companies Act 2013 and clause 49 of Listing Agreement with Stock exchange as amended from time to time.
2. To take on record the closure of branch office of the Company located at 7, B.B Ganguly Street, 4th Floor, Kolkata - 700012 effective from July 01, 2014.
3. The Board has considered & decided the following matters, subject to requisite approval of shareholders:
i. Recommended appointment of Mr. Sagar Jain, Mr. Ashok Kr Agarwal, Mr. Radhey Shyam Agarwal, Mr. Kashi Prasad Khandelwal, as Independent Directors of the Company for a period of 5(five) consecutive years for a term upto March 31, 2019.
ii. Change in the status/category of appointment of Mr. Pawan Jain, Managing Director, to liable to determination of retirement by rotation.
iii. Authority to borrow upto an amount not exceeding Rs. 100 Crores pursuant to section 180(1)(c) of Companies Act, 2013.
iv. Amendment of Articles of Association (AOA) of the Company into bring it in consonance and harmony with Companies Act, 2013.
v. Keeping the register of Members etc., as required to be kept at the Registered Office of the Company, at the office in India of Registrar & Share Transfer Agents (RTA) of the Company.
vi. Investment/acquisition/purchase of securities of one or more body corporate not exceeding Rs. 50 crores in excess of and in addition to the investments already made as at March 31, 2014, in terms of section 186 of Companies Act 2013 read with Rules thereon.
vii. To Approve the Related party transaction pursuant to section 188 of Companies Act, 2013 and clause 49 of Listing Agreement with Stock exchange as amended from time to time. |
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