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| Exchange Disseminated Time | Harrisons Malayalam Ltd has informed BSE that the members at the 33rd Annual General Meeting (AGM) of the Company held on September 30, 2010, inter alia, have accorded to the following:
1. Adoption of the Balance Sheet as at March 31, 2010, the Profit and Loss Account for the year ended on that date, the Reports of the Directors and Auditors.
2. Declared a dividend at the rate of Re.2.00 per share for the year ended March 31, 2010 on the equity shares of the Company.
3. Re-appointed Mr. Sanjiv Goenka & Mr. Haigreve Khaitan as Directors of the Company whose appointment is subject to retirement by rotation.
4. Authority to the Board of Directors of the Company ("the Board" which term shall be deemed to include any Committee thereof) for creating such charges, mortgages and hypothecations in addition to the existing charges, mortgages and hypothecations created by the Company, on the immovable properties both present and future, situated at :
(i) Arrapetta Estate in Wynad District, Kerala and charged
- On pari-passu First Charge basis in favour of the Consortium Bankers viz State Bank of India (SBI), State Bank of Travancore (SBT), State Bank of Hyderabad (SBH) and ICICI Bank (ICICI) for the Total Working Capital Facility of Rs.4126 lacs sanctioned to the Company and
On pari-passu Second Charge basis in favour of SBI and SBT for the Bank Guarantee facility of Rs.1100 lacs, sanctioned to the Company.
(ii) Mayfield Estate in Niigiris District, Tamilnadu, with IDBI Bank Limited acting on behalf of State Bank of India (SBI), National Bank of Agriculture & Rural Development (NABARD), State Bank of Travancore (SBT), State Bank of Hyderabad (SBH) and ICICI Bank Ltd. (ICICI) and charged
- On pari-passu First Charge basis in favour of SBI for Rs.1392 lacs, and NABARD for Rs.464 lacs for the Agricultural Term Loan sanctioned to the Company and
- On pari-passu Second Charge basis in favour of the Consortium Bankers viz State Bank of India (SBI), State Bank of Travancore (SBT), State Bank of Hyderabad (SBH) and ICICI Bank Ltd. (ICICI) up to the value of Rs.800 lacs for covering the Total Working Capital Facility of Rs.4126 lacs sanctioned to the Company.
(iii) Veerakeralam, Thondamuthur in Coimbatore District, Tamilnadu and charged in favour of IDBI Bank Limited for the Term Loan aggregating to Rs.5800 lacs, lent and advanced by IDBI Bank Limited to the Company during 2008-09. |
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