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| Exchange Disseminated Time | Vardhman Polytex Ltd has informed BSE that the members at the 31st Annual General Meeting (AGM) of the Company held on August 29, 2011, inter alia, have approved the following matters by way of passing the ordinary / special resolutions with or without modifications unanimously:
1. Adoption of the audited Balance Sheet as at March 31, 2011 and Profit & Loss Account for the year ended on that date along with the Reports of the Auditors and Directors thereon.
2. Re-appointment of Mr. M D Kanitkar as director of the Company, who retires by rotation and being eligible offered himself for re-appointment.
3. Re-appointment of M/s. S S Kothari Mehta & Co., Chartered Accountants, New Delhi as Statutory Auditors of the Company for the year 2011-12.
4. Raising of the funds by way of equity share capital from the investors for an amount not exceeding Rs. 150 crore (Rupees one hundred fifty crore only) in one or more trenches by different modes.
5. Increase in Authorised Share Capital from Rs. 30 Crore to Rs. 50 Crore and alteration in Clause V of the Memorandum of Association of the Company.
6. Alteration in Article 5 and 194 of the Article of Association of the Company.
7. Authorization to the Board of Directors to Mortgage/Hypothecation /create Charge on the Assets of the Company upto an amount of Rs. 600 Crore as per section 293 (1)(a) of the Companies Act, 1956. |
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