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| Exchange Disseminated Time | BSL Ltd has informed BSE that the members at the 35th Annual General Meeting (AGM) of the Company held on September 14, 2006, inter alia, have accorded to the following:
1. Adoption of the Audited Balance Sheet and the Profit & Loss Account of the Company for the year ended on March 31, 2006 and report of Directors and Auditor’s thereon.
2. Declaration of dividend @ 10% on Equity Shares of the Company for the year ended March 31, 2006.
3. Re-appointment of Shri. Ravi Jhunjhunwala, Shri. Shekhar Agarwal and Shri. B D Mundhra as Directors of the Company.
4. Re-appointment of M/s. A L Chechani & Company, Chartered Accountants, as Statutory Auditors of the Company to hold the office till the conclusion of next Annual General Meeting of the Company on remuneration, terms and conditions.
5. Appointment of Shri. Sushil Kumar Churiwala, as Director of the Company liable to retire by rotation.
6. Authority to the Board to borrow any sum or sums of money from time to time at their discretion, for the purpose of the business of the Company, from any one or more Banks, Financial Institutions and other persons, firms, bodies corporate, notwithstanding that the monies to be borrowed together with the monies already borrowed by the Company (apart from temporary loans obtained from the Company's Bankers in the ordinary course of business) may, at any time, exceed upto a sum of Rs 250 crore over and above the aggregate of the then paid up capital of the Company and its free-reserves (that is resents not set apart for any specific purpose) and that the Board of Directors be and is hereto empowered and authorized to arrange or fix the terms and conditions of all such monies to be borrowed from time to time as to interest, repayment, security or otherwise as they may, in their absolute discretion, think fit, subject to necessary provisions & approvals.
7. Authority to the Board to mortgage and / or charge and / or hypothecate any or all of the present and / or future immovable and / or movable properties in favour of Bank(s) and / or financial institution(s) or Trustee(s) of the debenture / bond holders and / or any other institution(s) or bodies corporate in such form and manner and on such basis, term and conditions as the Board may determine from time to time for the purpose of securing, if required, any debt(s) that may be raised by the Company from time to time, by issue(s) of Non Debentures / Bonds and / or external commercial borrowings and / or any other form(s) of debt or any combination there of within the over all borrowing powers of Rs 250 crores of the Company together with interest thereon further interest, premium on prepayment or redemption, liquidated damages, remuneration and any other costs, charges and expenses in connection therewith, subject to necessary provisions & approvals. |
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