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| Exchange Disseminated Time | SEL Manufacturing Company Ltd has informed BSE that the members at the 10th Annual General Meeting (AGM) of the Company held on August 07, 2010, inter alia, have approved the following:
1. Adopted the Balance Sheet for the financial year ended March 31, 2010 and the Profit & Loss Account for the financial year ended on that date together with the report of Directors & Auditors thereon.
2. Re-appointed Mr. Amar Gopal Das Narang and Mr. Navneet Gupta as Directors liable to retire by rotation.
3. Appointed M/s. Dass Khanna & Co., Chartered Accountants the retiring Auditors as Statutory Auditors of the Company to hold office till the conclusion of the next Annual General Meeting.
4. Appointed Mr. Vinod Kumar Goyal as Director of the Company liable to retire by rotation.
5. Appointed Mr. Prem Kumar as Director of the Company liable to retire by rotation.
6. Confirmed the re-appointment of Mr. Dhiraj Saluja as Whole-time Director of the Company for a further period of three years.
7. Increased the Authorised Share Capital of the Company to Rs. 250.00 Crores from the present Authorised Share Capital of Rs. 75.00 Crores and also to make necessary amendments in the Memorandum of Association of the Company.
8. Confirmed the appointment of Mr. Vinod Kumar Goyal as Executive Director and CEO of the Company for a period of three years.
9. Authority to the Board to raise funds for the Company by way of issue of securities, including Global Depositary Receipts (GDRs) and/or American Depositary Receipts (ADRs) convertible into equity shares, Foreign Current} Convertible Bonds (FCCBs) or any instrument or securities representing convertible securities such as convertible debentures, bonds or warrants etc. convertible into equity shares, in one or more tranches, in Indian or Foreign Market(s) as applicable, whether optionally or otherwise or any combination thereof (hereinafter referred to as 'Securities') up to an aggregate amount not exceeding 200 Million US$ Only.
10. Authority to Board pursuant to the provisions of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 to create, offer, issue and allot upto 2,50,00,000 Equity warrants convertible into equity shares on preferential basis to the Promoters of the Company as mentioned in the Resolution.
11. Authority to Board pursuant to the provision of Section 149(2A) of the Companies Act, 1956 to commence all or any of the business(es) at such time or times as the board may deem fit in the interest of the Company, as mentioned under the sub-clause 16,48 and 51 of "Other Objects" clause of the Memorandum of Association of the Company. The said objects relate mainly to real estate, property, hotels. restaurants and aviation sector etc. |
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