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| Exchange Disseminated Time | Tamil Nadu Newsprint & Papers Ltd has informed BSE that the members at the 28th Annual General Meeting (AGM) of the Company held on August 29, 2008, inter alia, have accorded to the following:
1. Adoption of the Balance Sheet of the Company as on March 31, 2008, Profit and Loss Account for the year ended March 31, 2008, Auditors Report thereon and Directors Report of the Company.
2. Declaration of final dividend at the rate of 25% on fully paid up equity share of Rs 10/- each besides the interim dividend of 20% already declared and paid during the year.
3. Re-appointment of Thiru V R Mehta & Thiru V Narayanan, as Directors of the Company.
4. Payment of remuneration to M/s. Maharaj N R Suresh & Co., Statutory Auditors.
5. Appointment of Thiru M F Farooqui, Tmt. Anita Praveen IAS & Thiru Atulya Misra IAS as Directors of the Company.
6. Appointment of Thiru Md. Nasimuddin IAS, as Managing Director of the Company w.e.f. February 21, 2008 on remuneration, terms & conditions.
7. Appointment of Thiru A Velliangiri as Wholetime Director designated as Deputy Managing Director of the Company for a period of five years with effect from December 19, 2007.
8. Authority to the Board to borrow any sum or sums of money from time to time notwithstanding that the money or monies to be borrowed together with the monies already borrowed by the company in any financial year (apart from temporary loans 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 to say, reserves not set apart for any specific purposes, provided however, the total amount so borrowed shall, not exceed the aggregate sum total of Rs 1500 crores (Rupees One thousand five hundred crores only) comprising both Rupee loan and Foreign Currency loan. |
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