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| Exchange Disseminated Time | Sicagen India Ltd has informed BSE that that the members of the Company will consider to approve by way of Postal Ballot the Ordinary Resolution relating to transfer or otherwise sell or dispose of either in parts or the whole of the following businesses / units / divisions namely.
(1) Goodwill Governor Services, (2) Goodwill Travels & Cargo, (3) Goodwill Engineering Works and (4) Speciality Chemicals,
including all assets and liabilities, loans and advances availed by the Company together with the uses of all the licences, permits, consents and approvals whatsoever and all the rights, benefits and obligations attached thereto effective for such date and for such consideration as the Board of Directors of the Company may in its discretion think fit and that the Board of Directors of the Company be and are hereby authorized to complete the sale or transfer of the said businesses / units / divisions with such modifications as may be required by any of the approving authorities or which it may deem fit to be in the interest of the Company, however such sale or transfer of the above businesses / units / divisions shall be based upon valuation of certificates from the qualified valuers and subject to clearance / release from mortgages / charges if any created on the assets of the aforesaid businesses / units from financial institutions / banks for the Joan availed by the Company, subject to necessary provisions & approvals.
The Board of Directors has appointed Mr. R Kannan, Practising Company Secretary as the 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 December 05, 2008. The scrutinizer will submit his report to the Chairman after completion of the scrutiny and the results of the postal ballot will be announced on December 08, 2008. |
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