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| Exchange Disseminated Time | Murudeshwar Ceramics Ltd has informed BSE that the Members of the Company will consider to approve by way of Postal Ballot the Ordinary resolution, to borrow from time to time from domestic and / or from over-seas sources, by way of term loan/s and / or working capital assistance and / or by issue of debentures / promissory notes / any other kind of debt instruments, of such sum or sums of money (including Public Deposits but excluding temporary loans obtained from the Company's bankers in the ordinary course of business), which in the aggregate shall not at any time exceed Rs 400,00,00,000/- (Rupees four hundred crores only), in Indian currency and / or in any foreign currency notwithstanding that the moneys to be borrowed together with the moneys already borrowed by the Company (apart from temporary loans obtained from the Company's bankers in the ordinary course of business), will 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 purpose/s, subject to necessary provisions & approvals.
2. To hypothecate, mortgage (simple or equitable), charge and / or in any other way encumber, all or any of the moveable / current / fixed / immoveable assets of the Company, both present and future, and / or whole or any part of undertaking(s) of the Company, together with powers to take over the management other business and concern of the Company in certain events of default, in favour of any Lender(s), Agent(s) and / or Trustee/s, as the case may be, for the purpose of securing the borrowings of the Company availed / to be availed by way of loan(s), working capital assistance, issue of debentures / bonds / notes and / or any other debt instruments issued / to be issued by the Company, from time to time, together with interest, additional interest, compound interest, accumulated interest, liquidated damages, commitment charges, premia on prepayments, and all other incidentals and levies, as may applicable under respective agreements, deeds, writings, trust deeds or any other kind of documents as may be agreed to by and between the Board and the Lenders, their agents, trustees, as the case may be, in respect of the said loans / borrowings / debentures / bonds or other securities, subject to necessary provisions & approvals.
The Company has appointed Shri. B C Shetty, Chartered Accountants, Hubli as Scrutinizer for conducting the Postal Ballot process in a fair and transparent manner.
The Postal Ballot form duly completed should reach the scrutinizer on or before the close of working hours on July 21, 2008. The Scrutinizer, after completion of the scrutiny, will submit his report to the Chairman of the Company which will be final and binding. The results of the postal ballot will be declared by the Chairman or in his absence, by one of the Wholetime / Functional Directors as may be authorized by the Chairman on July 25, 2008. |
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