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| Exchange Disseminated Time | Magma Fincorp Ltd has informed BSE that the Management Committee of the Board of Directors of the Company (which has been authorized in this regard) at its meeting held on February 27, 2015, has decided to seek approval of Members of the Company by way of Postal Ballot pursuant to Section 110 of the Companies Act, 2013 read with Rule 22 of Companies (Management and Administration) Rules, 2014 in respect of issue and offer of Cumulative Redeemable Non-Convertible Preference Shares on a Private Placement basis.
The above matters require approval from the members of the Company. The Committee has proposed to seek the approval from the members to the resolution by means of Postal Ballot route as provided in the provisions of Section 110 and other applicable provisions, if any, of the Companies Act, 2013, read with Rule 22 of Companies (Management and Administration) Rules, 2014.
M/s. A. K. Labh & Co., Practicing Company Secretaries, Kolkata, have been appointed as Scrutinizer for conducting the Postal Ballot voting process in a fair and transparent manner. The Voting Rights of the Members shall be reckoned as on February 20, 2015 which is the cut off date. |
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