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| Exchange Disseminated Time | DB International Stock Brokers Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 25, 2012, inter alia, has considered the following;
1. To borrow and raise such sum or sums of money from time to time as may be required for the purposes of the business of the Company, in excess of the aggregate of the paid up capital of the Company and free reserves of the Company, that is to say, reserves not set apart for any specific purpose, subject to the proviso that such borrowing shall not exceed Rs. 100,00,00,000/- (Rupees Hundred Crores) over and above the aggregate of the paid, up capital of the Company and its free reserves and shall exclude all temporary loans obtained by the Company from its banker in the ordinary course of its business, on such terms and conditions as the Board may consider necessary and expedient in the best interest of the Company.
2. Approved and adopted the recommendation and approval of increase in the managerial remuneration by the Remuneration Committee, to be paid to Mr. Shiv Narayan Daga, Managing Director, and forwarded for the approval of shareholders in the Annual General Meeting of the Company. |
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