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| Exchange Disseminated Time | Sona Koyo Steering Systems Ltd has informed BSE that the 26th Annual General Meeting (AGM) of the Company will be held on July 27, 2010, inter alia, to transact the following :
1. To receive, consider and adopt the audited Profit & Loss Account for the year ended March 31, 2010, the Balance Sheet as at that date and the Reports of Directors and Auditors thereon.
2. To declare dividend for the year ended March 31, 2010.
3. To appoint a Director in place of Mr. P.K. Chadha, Mr. Ramesh Suri & t. Gen. (Retd.) Shamsher Singh Mehta, who retire by rotation and being eligible, offer themselves for reappointment.
4. To appoint M/s. S.P. Puri & Co., Chartered Accountants, as the Auditors of the Company and fix their remuneration.
5. Appointment of Mr. Kazuhiko Ayabe as a Director of the Company, liable to retire by rotation.
6. Revision in the remuneration payable to Mr. Sunjay Kapur, Managing Director of the Company with effect from May 01, 2010 for the remaining period of his appointment i.e. up to October 21, 2011 on the terms and conditions as contained in the draft agreement to be entered into between the Company and Mr. Sunjay Kapur and the Board of Directors of the
Company be and is hereby authorized to execute such agreement on behalf of the Company under its Common Seal on the terms and conditions and subject to such modifications as may be agreed to between the Board of Directors and Mr. Sunjay Kapur, Managing Director of the Company.
7. Mortgaging and / or charging by the Board of Directors of the Company of all or any part of immovable and movable properties of the Company, wheresoever situate, present and future, of every nature and kind whatsoever and / or the whole of the undertaking of the Company in favour of the Export Import Bank of India, Yes Bank, Tata Capital Limited and Standard
Chartered Bank to secure:
AS AND BY WAY OF FIRST CHARGE
(i) State Bank of India of its Corporate Loan of Rs. 400 million.
AS AND BY WAY OF SECOND CHARGE
(i) State Bank of India of its Corporate Loan of Rs. 400 Million;
(ii) Yes Bank of its Pre-shipment Credit Facility of Rs. 100 million;
(iii) Tata Capital Limited for its Term Loan of Rs. 100 million; and
(iv) Standard Chartered Bank of its Term Loan of Rs. 100 million.
together with the interest thereon at the respective agreed rates, compound interest, additional interest, liquidated damages, commitment charges, premia on prepayment or on redemption, cost, charges, expenses and other monies payable by the Company to State Bank of India, Yes Bank, Tata Capital Limited and Standard Chartered Bank under the respective heads of agreement / loan agreement / subscription agreement / credit facility agreement / letter of sanction / memorandum of terms and conditions, entered into / to be entered into by the Company in respect of the said facilities. |
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