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| Exchange Disseminated Time | Standard Batteries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 14, 2011, inter alia, has approved to add new objects to the Object Clause of Memorandum of Association and obtain approval of Members of the Company by Postal Ballot.
The Resolution proposed is as under:
"RESOLVED pursuant to the provisions of Section 17 and other applicable provisions, if any, of the Companies Act, 1956 and subject to the approvals of the Registrar of Companies, Maharashtra that the Memorandum of Association of the Company be and is hereby altered by Renumbering the existing Clause (a) of Clause 3 of the Main Objects as Clause (ab) and by adding the following Clause as Clause (a) in Clause 3 of the Objects of the Memorandum of Association of the Company:
(a) To carry on in India or elsewhere the business of investing, financing, bill discounting, factoring, corporate lending and to advance money with or without securities to provide finance to industrial enterprises on short term, medium term and long term basis, to provide finance on the securities of share, stocks, bonds, debentures or other similar instruments, provide clean loan, to provide loans against security provided to the Company, to participate in consortium finance with other institution or body corporate but the Company shall not do Banking business as defined in Banking Regulation Act, 1949: to provide guarantees and counter guarantees, to provide bridge loans, to provide forex advisory services and loan syndication services: and to act as consultant, advisor, manager, representatives, retainer or in other capacity for the purpose of accomplishment of these objects." |
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