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| Exchange Disseminated Time | GIC Housing Finance Ltd has informed BSE that the members at the 18th Annual General Meeting (AGM) of the Company held on July 29, 2008, inter alia, have accorded to the following:
1. Adoption of the Directors Report, Audited Statement of Accounts of the Company and Auditor's Report for the year 2007-200.
2. Declaration of Dividend @ 40% on the equity shares of the Company for the year 2007-08.
3. Re-appointment of Shri. M Ramadoss, Shri. B Chakrabarti & Shri. Arun Datta, as Directors of the Company, liable to retire by rotation, from the conclusion of this Annual General Meeting.
4. Re-appointment of M/s. M P Chitale and Co., Chartered Accountants, Mumbai, as Auditors of the Company to hold office from the conclusion of this Annual General Meeting till the conclusion of the next Annual General Meeting of the Company, on remuneration, terms & conditions.
5. Appointment of Shri. Atul Kumar Rai, Shri. G Srinivasan, Shri. M Ramaprasad & Shri. M Sivaraman, as Directors of the Company, liable to retire by rotation.
6. Appointment of Shri. M Sivaraman, as Managing Director of the Company for the period from October 24, 2007 to October 31, 2009, on remuneration, terms and conditions.
7. Authority to the Board, to borrow, for the purpose of the business of the Company, such sum or sums of money as they may deem necessary, notwithstanding the fact that the moneys borrowed from time to time will exceed the aggregate of the paid up capital of the company and its free reserves i.e. to say reserves not set apart for any specific purpose, provided that the total outstanding amount of such borrowings shall not exceed Rs 4000 crores (Rupees four thousand crores only ) over and above the aggregate of the paid up capital of the company and its free reserve at any time. |
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