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| Exchange Disseminated Time | Kothari Products Ltd has informed BSE that the members at the 25th Annual General Meeting (AGM) of the Company held on September 24, 2009, inter alia, have accorded to the following:
1. Re-appointment of Sri. M M Kothari, Chairman (Executive), for a period of one year w.e.f. October 01, 2009, on remuneration, terms & conditions.
2. Authority to create security on the assets of the Company:
- Authority to the Board to mortgage and / or charge, in addition to the mortgage(s) / charge(s) created / to be created by the Company, in such form and manner and with such ranking as at such time and on such terms and conditions as the Board may determine, subject to maximum amount of Rs 500 Crores of charges outstanding at any time, on all or any of the movable and / or immovable property(ies) of the Company, both present and future and / or whole or any part of the undertaking(s) of the Company together with the power to take over the management of the business and concern of the Company in certain events of default, in favour of the Lender(s), Agents(s) and Trustee(s) for securing the borrowing(s) availed / to be availed by the Company, by way of loan(s) (in foreign currency and / or Indian currency) and Securities (comprising fully / partly convincible and / or non- convertible debentures with or without detachable warrants and securities premium notes and / or floating rates notes / bonds or other debt instrument) issued / to be issued by the Company from time to time, subject to the limits approved under section 293(1) (d) of The Companies Act, 1956, together with interest at the respective agreed rates, additional interest, compound interest and in case of default, accumulated interest, Liquidated damages, commitment charges, premia on prepayment, remuneration of the Agent(s) / Trustees, premium (if any) on redemption, all other costs, charges and expenses, including any increase as a result of devaluation / revaluation / fluctuation in the rates of exchange and all other monies payable by the Company in terms of loans Agreement(s) / other Agreement(s) / Debenture Trust Deed(s) or any other document, entered into / to be entered into between the Company and the Lender(s) /Agent(s) and Trustee(s) in respect of said loans / borrowings / debentures / other securities and containing such specific terms and conditions and covenants in respect of enforcement of security as may be stipulated in that behalf and agreed to between Board of Directors and the Lender(s) / Agent(s) and Trustee(s), subject to necessary provisions & approvals. |
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