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| Exchange Disseminated Time | Kaushalya Infrastructure Development Corporation Ltd has informed BSE that the members at the 19th Annual General Meeting (AGM) of the Company held on September 30, 2011, inter alia, have approved the following:
1. Adoption of the audited accounts of the Company for the year ended March 31, 2011, along with the Directors' and Auditors' Reports thereon.
2. Re-appointment of Mr. Parag Keshar Bhattacharjee, as a Director of the Company, liable to retire by rotation.
3. Re-appointment of Mr. Sakti Pada Banerjee, as Directors of the Company, liable to retire by rotation.
4. Appointment of M/s. Sumanta & Co., Chartered Accountants, Kolkata, as the Statutory Auditors of the Company to hold the office the conclusion of this meeting until the conclusion of next Annual General Meeting of the Company, on remuneration, terms & conditions.
5. Increased the Authorised share capital of the Company from Rs. 250,000,000/- (Rupees Twenty Five Crores only) dividend into 25,000,000 Equity Shares of Rs. 10/- each to Rs. 350,000,000/- (Rupees Thirty Five Crores only) dividend into 35,000,000 Equity Shares of Rs. 10/- each by creation of 10,000,000 Equity Shares of Rs. 10/- each ranking pari passu in all respect with the existing equity shares & consequential amendment in the Memorandum of Association of the Company.
6. Authority to the Board to create, offer, issue and allot on preferential basis, at its sole and absolute discretion, 15,025,000 (One Crore Fifty Lacs Twenty Five Thousand) Warrants of nominal value of Rs. 10/- each at a price of Rs. 11/- per Warrant (including a premium of Re. 1/- per Warrant) which price is not less than the price calculated as per SEBI (Issue Of Capital and Disclosure Requirements) Regulations, 2009 aggregating to an amount of Rs. 165,275,000 (Rupees Sixteen Crore Fifty Two Lacs Seventy Five Thousand only) to following allottees, each warrant convertible of Warrants does not exceed 1,50,25,000 (One Crore Fifty Lacs Twenty Five Thousand) Equity Shares, on such terms and conditions as may be decided and deemed appropriate by the Board at the time of issue or allotment. (For more details kindly refer Corporate Announcements on www.bseindia.com). |
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