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| Exchange Disseminated Time | India Glycols Ltd has informed BSE that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on November 30, 2009, inter alia, to transact the following business:
1. To carry on the business activities as covered under the Other Objects Clause No.3 & 9 of the Memorandum of Association of the Company and the Board of Directors of the Company be and is hereby authorized to take all such effective steps to implement the decision of the members of the Company as they may consider appropriate in the interest of the Company and to do all such acts, deeds and things from time to time for and on behalf of the Company, subject to necessary provisions & approvals.
2. To borrow such sum or sums of monies in any manner from time to time with or without security and upon such terms and conditions as they may think fit, notwithstanding that monies to be borrowed together with monies borrowed by the Company (apart from temporary loan obtained from the Company’s Bankers in the ordinary course of business) may exceed the aggregate of the paid up capital of the Company and its free reserves (that is reserves not set apart for any specific purpose) provided that the total amount so borrowed by the Board of Directors and outstanding at any time, shall not exceed the sum of Rs. 1000 crores (Rupees one thousand Crores only), subject to necessary provisions & approvals.
3. To create mortgage and / or charge by way of first and second charge on all the immovable and / or movable properties of the Company, wherever situate, both present and future and / or conferring power to enter upon and to take possession of assets and the whole of the undertaking together with power to takeover the management of the business or concern of the Company in certain events in favour of the Financial Institutions, NBFCs, Lenders and / or Commercial Banks to secure the borrowings in form of the Rupee Term Loans, Corporate Loans, Foreign Currency Loans, Non-convertible Debentures and / or Working Capital limits and any other form of loan of whatever nature for an amount not exceeding Rs. 1000 crores (Rupees one thousand Crores only) together with interest thereon at the respective agreed rates, compound interest, additional interest, liquidated damages, premia on prepayment or on redemption, costs, charges, expenses and other monies and remuneration of Trustees, if any, payable by the Company in terms of the loan agreement / Trust Deed / other documents to be finalised and executed between the Company and the Agents and Trustees / Lenders as above and containing such specific terms and conditions and covenants in respect of enforcement of security as may be stipulated in that behalf and agreed to between the Board of Directors and the Lenders / Agents and Trustees, subject to necessary provisions & approvals.
4. To propose Shri. Ravi Jhunjhunwala as a Director of the Company, liable to retire by rotation. |
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