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| Exchange Disseminated Time | Pudumjee Pulp & Paper Mills Ltd has informed BSE that the members at the 46th Annual General Meeting (AGM) of the Company held on August 27, 2011, inter alia, have accorded to the following:
1.Adoption of the Audited Balance Sheet as on March 31, 2011, the Profit and Loss Account and Cash Flow Statement for the year ended on that date together with the reports of the Directors and Auditors.
2. Declaration of Dividend at the rate of Thirty paise per share on 4,10,00,000 Equity Shares of Rs.2/- each of the Company for the year 2010-2011.
3. Re-appointment of Mr. V O Somani, Mr. A K Jatia & Mr. B C Dalal as Directors of the Company.
4. Appointment of Messrs. Khare & Co., as Auditors of the Company for the financial year 2011-2012 to hold office from the conclusion of this Meeting until the conclusion of the next Annual General Meeting on a remuneration, terms & conditions.
5. Authority to the Board to borrow moneys from time to time from any one or more bodies corporate or financial institutions, Banks or any entity or any person or persons by way of credit, advance or other loans or deposits whether unsecured or secured by mortgage, charge, hypothecation or pledge of the fixed assets and properties of the Company whether moveable or immoveable or stock-in-trade and finished goods for the purpose of carrying on the business of the Company notwithstanding that such borrowings, together with money already borrowed by the Company (apart from temporary loans obtained if any, from the Company’s bankers in the ordinary course of business) may 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 for the time being and from time to time but so that the total amount of money so borrowed by the Directors shall not exceed the sum of Rupees One thousand crores, subject to necessary provisions & approvals.
6. Authority to the Board to mortgaging and/or charging by the Board of Directors of the Company of the whole or substantially the whole of the undertaking(s), immovable and movable properties of the Company wheresoever situate, present and future, in connection with the borrowings, loans from Banks, Financial Institutions and other Lenders, together with power to the lenders to takeover the management of the business and concern of the Company in certain events, to or in favour of any Financial Institution, Bank, Mutual Fund, Trustees for any instrument of debt or any other Body Corporate or entity to secure any such borrowings by the Company in Indian Rupees or Foreign currency together with interest, compound/additional interest, commitment charge, premium on pm payment or on redemption, cost, charges, expenses and all other monies payable to such lenders in terms of their respective Loan/Trusteeship Agreement entered in to or to be entered into by the Company in respect of such borrowings, so however that the aggregate of all such borrowings does not exceed Rupees One Thousand crores, subject to necessary provisions & approvals. |
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