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| Exchange Disseminated Time | SKM Egg Products Export India Ltd has informed BSE that the members at the 12th Annual General Meeting (AGM) of the Company held on September 11, 2007, inter alia, have accorded to the following:
1. Adoption the Audited Balance Sheet as at March 31, 2007 and Profit and Loss Account for the financial year ended March 31, 2007 together with Directors Report and Auditors Report thereon placed before this meeting be and are hereby adopted.”
2. Declaration of dividend at the rate of 5% on the equity share capital of the Company for the financial year 2006-2007.
3. Re-appointment of Dr. M Chandrasekar & Shri. S M Venkatachalapathy, as Directors of the Company.
4. Re-appointment of M/s. N C Rajagopal & Co, Chartered Accountants, Erode, as Auditors of the company to hold office from the conclusion of this Annual General Meeting till the conclusion of the next Annual General Meeting of the Company, on remuneration, terms & conditions.
5. Revision in remuneration payable to Shri. SKM Maeilanandhan, Executive Chairman with effect from January 01, 2007, on terms & conditions.
6. Authority to the Board of Directors to their borrowing for and on behalf of the company monies from time to time and without prejudice to the generality thereof by way of loans, advances, credits, acceptance of deposits, banking, financial facilities, bonds or otherwise from any bank or banks or any financial institution(s) or other person or persons situated in India or abroad and whether the same be secured or unsecured and if secured, whether by way of mortgage, charge, hypothecation, pledge or otherwise in any way whatsoever on, over, or in respect of all or any of the Company’s asset, effects and properties notwithstanding that the monies so borrowed by the company, together with the monies already borrowed by the company (apart from temporary loan obtained / to be obtained from the companies banker in the ordinary course of business) may exceed the aggregate of the paid-up capital and free reserves, that is to say, reserves not set apart for any specific purpose provided that such excess amount so borrowed by the Board and outstanding shall not at any time exceed the limit of Rs 100 crores (Rupee one hundred crores only), subject to necessary provisions & approvals. |
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