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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 May 21, 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 following matters:
a. Subscription by Magma Fincorp Limited ("Company") to 2070 Redeemable Zero Coupon Non-Convertible Debentures issued by Celica Developers Private Limited ("Celica")
b. Adoption of new set of Articles of Association of the Company
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.
Vinod Kothari & Company, Practising 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 May 15, 2015 which is the cut off date. |
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