Board approves Bonus Issue

• Security Code: 506146
• Company: VIVIDHA

Visagar Polytex Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 10, 2016, inter alia, has considered, approved and decided the following:

1. Issue of Bonus Equity Shares in the ratio of 1:3, i.e. 1 (One) Equity Share of a face value of Re. 1/- each for every existing 3 (Three) Equity Shares of Re. 1/- each fully paid by way of capitalization of Free Reserves subject to the approval of Members.

2. Increase in Authorised Share Capital of the Company from the Rs. 19,00,00,000/- consisting of 190,000,000 Equity Shares of Re. 1/- each to Rs. 25,00,00,000/-consisting of 25,00,00,000 Equity Shares of Re. 1/- each to make the capital sufficient to accommodate the bonus issue and alteration of Clause V of Memorandum of Association of the Company subject to the approval of Members.

3. Resignation of Mr. Shivesh Anugrah Singh from Directorship of the Company.

4. Appointment of Mr. Manish Kumar Gupta as Non-Executive Independent Director.

5. Appointment of M/s. Rituraj & Associates, Practising Company Secretary as Secretarial Auditor of the Company for the financial year 2015-16; &

6. Appointment of M/s. RNA & Associates, Chartered Accountants as Internal Auditor of the Company for the financial year 2015-16.

7. Adoption of various policies under SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015:

a. Policy on Preservation of Documents as per Regulation 9 of SEBI (LODR), 2015;

b. Policy for Determination of Material Events in accordance with Regulation 30 of SEBI (LODR), 2015;

c. Archival Policy in accordance with Regulation 30 (8) of SEBI (LODR), 2015.

8. To authorise Mr. Tilokchand Kothari, Managing Director & Compliance Officer to execute the Listing Agreement with Stock Exchange pursuant to SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015.

The Board further approved Notice of Postal Ballot along with Explanatory Statement, Postal Ballot Form, Evoting Procedure and related matters for consideration and approval of Members in respect of businesses transacted at point no. (1) & (2) above.