|
| Exchange Disseminated Time | Maral Overseas Ltd has informed BSE that the members at the 20th Annual General Meeting (AGM) of the Company held on December 23, 2009, inter alia, have accorded to the following:
1. Adoption of the Profit & Loss Account for the period 18 months ended September 30, 2009 and the Balance Sheet as on that date of the Company and the report of the Directors and Auditors thereon.
2. Re-appointment of Mr. P. S. Dasgupta & Mr. D. N. Davar as Directors of the Company, liable to retire by rotation.
3. Re-appointment of M/s. Doogar & Associates, Chartered Accountants, New Delhi and M/s. Ashim & Associates, Chartered Accountants, New Delhi as Auditors of the Company on remuneration, terms & conditions.
4. Authority to the Board for creation of such mortgages and charges in addition to the existing mortgages and charges and hypothecations created by the Company as the Board may direct on the assets of the Company both present and future and the whole of the undertaking of the Company and/or conferring power to enter upon and take possession of the assets of the Company in certain events to or in favour of:
- Central Bank of India for its financial assistance of Rs. 591 Lacs
- Axis Bank Ltd for its financial assistance of Rs. 470 Lacs
- Export- Import Bank of India for its financial assistance of Rs. 458 Lacs
- Jammu and Kashmir Bank for its financial assistance of Rs. 198 Lacs
- IDBI Bank Ltd for its financial assistance of Rs. 131 Lacs
- Yes Bank Ltd for its financial assistance of Rs. 447 Lacs
- Indus-Ind Bank Ltd for its financial assistance of Rs. 572 Lacs
- State Bank of India for its financial assistance of Rs. 541 Lacs
- State Bank of Hyderabad for its financial assistance of Rs. 631 Lacs
- Canara Bank for its financial assistance of Rs. 484 Lacs
- Bank of Baroda for its financial assistance of Rs. 585 Lacs
- State Bank of Indore for its financial assistance of Rs. 585 Lacs
- State Bank of Patiala for its financial assistance of Rs. 488 Lacs
- State Bank of Bikaner and Jaipur for its financial assistance of Rs. 390 Lacs.
- Axis Bank Ltd for its financial assistance of Rs. 555 lacs.
- State Bank of Hyderabad for its financial assistance of Rs. 395 lacs.
("lenders") together with interest thereon at the respective agreed rates, compound interest, additional interest, liquidated damages, commitment charges, premia on pre-payment or on redemption, costs, charges, expenses and other monies payable by the Company to the lenders under the Loan Agreements entered into by the Company in respect of the said borrowings, subject to necessary provisions & approvals.
5. Authority to the Board to the creation of residual charge subject to the First Charge of the Term Lenders and Second Charge of the Working Capital Lenders on all the immovable and movable properties of the Company, wheresoever situated, present and future, and the whole of the undertaking of the Company and / or conferring power to enter upon and take possession of the assets of the Company in certain events to or in favour of the Yes Bank Ltd for its Forex Derivate loss Loan of Rs. 950 Lacs ( Rupees Nine Hundred Fifty Lacs), subject to necessary provisions & approvals.
6. Authority to the Board to issue and allot upto 12,00,000, Cumulative Redeemable Preference Shares (CRPS) of the face value of Rs. 100/- each as the Company may deem fit and proper from time to time in one or more tranches to Promoters, Person acting in Concert, which includes Associates, Individuals, Body Corporates, Relatives and Friends of such Promoters against promoter contribution(including conversion of the contribution already brought in by way of unsecured loans) on such terms and conditions and carrying such rate of dividend and the premium on redemption as the Board or its duly authorised Committee may in its absolute discretion deem fit including terms of issue, price and all other terms and conditions and matters connected therewith, subject to necessary provisions & approvals. |
|
|