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| Exchange Disseminated Time | Pondy Oxides & Chemicals Ltd has informed BSE that the shareholders at the 15th Annual General Meeting (AGM) of the Company held on August 28, 2010, inter alia, have accorded to the following:
1. Adoption of the Balance Sheet as on March 31, 2010 and the Profit & Loss Account for the year ended on that date together with the Directors Report and the Auditors Report thereon.
2. Declaration of dividend at 12% on Equity Share Capital for the year ended March 31, 2010.
3. Appointment of Sri. Padam Chandra Bansal, Sri. Anil Kumar Bansal, Sri. Y V Raman & Sri. Anil Kumar Sachdev as Directors of the Company, liable to retire by rotation.
4. Appointment of M/s. Jeeravla & Co., Chartered Accountants, Chennai, as Auditors for the Company to hold office from the conclusion of the fifteenth Annual General Meeting until the conclusion of the next Annual General Meeting of the Company, on remuneration, terms & conditions.
5. Re-appointment of Sri. Anil Kumar Bansal as Managing Director of the Company for a period of Three years from April 01, 2010, on remuneration, terms & conditions.
6. Re-appointment of Sri. Suni Kumar Bansal, Sri. R P Bansal, Sri. Devakar Bansal as Director of the Company for a period of Three years from April 01, 2010, on remuneration, terms & conditions.
7.Re-appointment of Sri. Y V Raman as the Whole Time Director of the Company for a period of three years from April 01, 2010, on remuneration, terms & conditions.
8. Authority to the Board to keep the Register of Members, Debenture holders, indices, returns and copies of certificates and documents at the new Corporate Office of the Company at 4th Floor, KRM Centre, No.2, Harrington Road, Chetput, Chennai — 600 031 with effect from October 1, 2010, subject to necessary provisions & approvals.
9. Authority to the Board to borrow for the purpose of business any sum or sums of money from time to time, on such terms and conditions and with or without security as the Board of directors may in its discretion think fit notwithstanding that the money or monies to be borrowed together with monies already borrowed by the Company (apart from temporary loans obtained from the Company’s Bankers in the ordinary course of business) may exceed the aggregate of the paid-up share capital of the Company and its free reserves, that is to say, reserves not so set aside for any specific purpose, provided however, that the total amount so borrowed and remaining outstanding at any particular time shall not exceed Rs.100.00 Crores (Rupees One hundred crores), subject to necessary provisions & approvals. |
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