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| Exchange Disseminated Time | Usha Martin Education & Solutions Ltd has submitted to BSE a copy of Press Release declaring the results of Postal Ballot on February 11, 2011.
Press Release :
"In the meeting of Board of Directors of Usha Martin Education & Solutions Limited held on December 31, 2010, the Board had decided to seek approval of the members through postal ballot, in terms of Section 192A of the Companies Act, 1956 to create a mortgage and/or hypothecation / charging by the Board of Directors on all or any part of the current assets and movable fixed assets of the Company where-so-ever situated, present and future, in such manner as may be decided by IDBI Bank Limited, to secure Working Capital Facility (Cash Credit) granted by the said Bank to the Company.
The Postal Ballot seeking approval of the members to the proposal was posted to all members and the report of the Scrutinizer was submitted to the Whole-time Director on February 10, 2011. The Whole-time Director on February 11, 2011, has declared that the resolution as per Postal Ballot has been approved by the members with requisite majority." |
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