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| Exchange Disseminated Time | GTN Textiles Ltd has informed BSE that the members at the 1st Annual General Meeting (AGM) of the Company held on July 28, 2006, inter alia, have accorded to the following:
1. Adoption of the Audited Balance Sheet as at March 31, 2006 and the annexed Profit & Loss Account for the period ended as on that date together with the Directors Report and Auditors Report thereon.
2. Declaration of dividend @ 9% on the paid up equity share capital of the Company as on March 31, 2006.
3. Re-appointment of Shri Umang Patodia, as a Director of the Company.
4. Re-appointment of M/s M S Jagnnathan & Visvanathan, Chartered Accountants, Coimbatore as Auditors of the Company to hold office from the conclusion of this meeting until the conclusion of next Annual General Meeting, on remuneration, terms and conditions.
5. Appointment of Shri M K Patodia, Shri B L Singhal, Shri M L Patodia, Shri R Rajagopalan, Shri P K Kurian, Shri C D Thakker and Shri Prem Malik, as Directors of the Company with effect from the date of Annual General Meeting.
6. Authority to Board to contribute and / or subscribe, in any financial year to any body, institute, society, person, trust or fund for any charitable or other purposes not directly related to the business of the Company or to the welfare of its employees upto a total amount of Rupees ten lacs or five percent of the average net profits as determined in accordance with the provisions of sections 349 and 350 of the Companies Act, 1956, during the three financial years immediately preceding, whichever is greater, subject to necessary provisions & approvals. |
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