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| Exchange Disseminated Time | India Glycols Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 16, 2011, has approved the resolutions in respect of the following matters and proposed to be passed as Ordinary / Special Resolutions as the case may be by way of Postal Ballot:
- Authorisation for borrowing of funds for the Company in excess of the limit specified U/s. 293(1)(d) of the Companies Act, 1956.
- Authorisation to create charge/mortgage on the assets of the Company pursuant to Section 293(1)(a) of the Companies Act, 1956.
- Authorisation to make investment in, give loans to or provide guarantee or Security in connection with loans made to other Body Corporates in excess of the limits specified U/s. 372A of the Companies Act, 1956.
The Company seeks the shareholders’ consent for the proposals contained in the resolutions in respect of the matters referred above. The Company has appointed Mr. Ashish Saxena, ACS, Practicing Company Secretary as the Scrutinizer for conducting the Postal Ballot process in a fair and transparent manner. |
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