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| Exchange Disseminated Time | Visagar Polytex Ltd has informed BSE that the members at the Annual General Meeting (AGM) of the Company held on December 14, 2011, inter alia, have decided the following:
1. Adoption of Audited Balance Sheet of the Company as on June 30, 2011 and the Profit & Loss Account for the year ended on that date together with the Reports of Directors and Auditors thereon.
2. Re-appointment of Mr. Jethmal Rathi and Kamal Ahuja as Directors of the Company, liable to retire by rotation.
3. Re-appointment of M/s Sudhir M. Desai & Co., Chartered Accountants, as Auditors of the Company to hold the office from the conclusion of this AGM till the Conclusion of next AGM of the Company.
4. Increase in the remuneration of Mr. Tilokchand Kothari to Rs. 6.00 Lacs per Annum.
5. Approval of dividend on Equity shares as proposed by the Directors at 10% (Re. 0.10 per equity share of Re. 1/-), for the financial year 2010-11 to those members whose name appeared on the date of book closure.
6. Authorizing Board to borrow loans upto maximum of Rs. 25.00 Crores. |
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