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| Exchange Disseminated Time | Tulsyan NEC Ltd has informed BSE that the members at the 63rd Annual General Meeting (AGM) of the Company held on June 16, 2010, inter alia, have accorded to the following:
1. Adoption of the Audited Balance Sheet as at March 31, 2010 and the Profit and Loss Account for the year ended on that date together with the Directors and Auditors’ Report thereon.
2. Declaration of Dividend of 20% payable to the equity shareholders of the Company.
3. Re-appointment of Mr. S Soundararajan, Mr. P T Rangamani & Mr. C Ramachandran, Directors of the Company liable to retire by rotation.
4. Re-appointment of M/s. C A Patel & Patel, Chartered Accountants, Chennai as Auditors of the Company to hold office from the conclusion of this meeting until the conclusion of the next Annual General Meeting of the Company on remuneration, terms & conditions.
5. Increase the borrowing limit of the Board of Directors:
- Authority to the Board for borrowing from time to time all such sums of money as they may deem requisite for the purpose of the business of the Company notwithstanding that moneys to be borrowed together with moneys already borrowed by the Company (apart from temporary loans obtained from the Company’s Bankers in the ordinary course of business) will exceed the aggregate of the paid-up capital of the Company and its free reserves, that is to say, reserves not set apart for any specific purpose, provided that the aggregate of the amounts so borrowed and to be borrowed and outstanding at any time (apart from temporary loans obtained from the Company’s Bankers in the ordinary course of business) shall not exceed Rs. 1000 Crores (Rupees One Thousand Crores only), subject to necessary provisions & approvals. |
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