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| Exchange Disseminated Time | Maral Overseas Ltd has informed BSE that the members at the 22nd Annual General Meeting (AGM) of the Company held on September 22, 2011, inter alia, have passed the following:
1. Adoption of the Profit & Loss Account for the year ended the March 31, 2011, and the Balance Sheet as on that date of the Company and the report of the Director and Auditors thereon.
2. Declaration of the Preference Dividend for the year ended the March 31, 2011 @ 8% p.a. i.e. Rs. 8/- per share on 18,85,400 Cumulative Redeemable Preference Shares of Rs. 100/- each amounting to Rs. 1,50,83,200 (Rupee One Crore Fifty Lacs Eighty Three Thousand Two Hundred only) and @ 3% p.a. i.e. Rs. 3.00 per share on 8,00,000 Cumulative Redeemable Preference Shares of Rs. 100/- each amounting to Rs. 24,00,000 (Rupee Twenty Four Lac only) and 3% p.a. i.e. Rs. 1.30 per share payable for the proportionate period on 4,00,000 Cumulative Redeemable Preference Shares of Rs. 100/- each amounting to Rs. 5,19,452 (Rupees Five Lac Nineteen Thousand Four Hundred Fifty Two Only).
3. Re-appointment of Shri. Ravi Jhunjhunwala, as a Director of the Company, liable to retire by rotation.
4. Re-appointment of Shri P. S. Dasgupta, as a Director of the Company, liable to retire by rotation.
5. Re-appointment of M/s. Doogar & Associates, Chartered Accountants, New Delhi and M/s. Ashim & Associates, Chartered Accountants, New Delhi, as a Auditors of the Company to hold office from conclusion of this meeting until the conclusion of next Annual General Meeting of the Company, on remuneration & terms & conditions.
6. Alteration of Articles of Association of the Company.
7. Authority to the Board to the creation of Second Charge subject to the First Charge of the Term Lenders on all the immovable and movable properties of the Company, whereoever situated, present and future and the whole of the undertaking of the Company except the asset relating to erstwhile Jammu unit of the Company and/or conferring power to enter upon and take possession of the assets of the Company in certain events to or in favour of the Consortium Banks led by Bank of Boroda and for granting to the Company Working Capital Facilities to the extent of Rs. 156.50 Crores or to any enhancement in the limits in future from time to time. |
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