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| Exchange Disseminated Time | GTL Ltd has informed BSE that members of the Company will consider the following resolutions by way of Postal Ballot :
1. To alter and amend the Object Clause of Memorandum of Association of the Company by inserting new sub-clause 1 (d) immediately after the existing sub-clause 1 (c) under Clause III A of the Memorandum of Association of the Company.
2. To accord approval of the Company to the Board of Directors of the Company to commence the business of generating, developing, extracting, manufacturing, dealing in, selling, hiring or leasing energy and other products or by-products.
3. Authority to the Board of Directors of the Company ("the Board", which includes its Committees) to contribute, from time to time, to 'GTL Foundation' and/or 'GTL Employee Welfare Trust' or such other Trust being set up for welfare of the Employees of the Company and/or for charitable and/or other purposes in discharge of its Corporate Social Responsibility, such amount or amounts, as the Board may in its absolute discretion deem fit, provided however that the total amount that may be so contributed in any financial year of the Company will not exceed Rs. 700 Crore (Rupees Seven Hundred Crore) notwithstanding that such amount may exceed the limits laid down in Section 293 (1) (e) of the Companies Act, 1956, subject to necessary provisions and approvals.
The Board has appointed Mr. Virendra G. Bhatt, a practicing Company Secretary as the Scrutinizer for conducting the Postal Ballot voting process.
The Postal Ballot form should return to the Scrutinizer not later than the close of working hours on February 18, 2011. The results of the Postal Ballot will be declared by the Chairman & Managing Director or the Whole-time Director on February 22, 2011. |
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