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| Exchange Disseminated Time | Bannari Amman Spinning Mills Ltd has informed BSE that the members at the 19th Annual General Meeting (AGM) of the Company held on September 23, 2009, inter alia, have accorded the following:
1. Adoption of Audited Balance Sheet as at March 31, 2009 and the Profit and Loss Account for the year ended March 31, 2009 together with the Report of the Director' and Auditors' thereon.
2. Declaration of dividend at Re. 1/- per Equity Share of Rs. 10/- each (i.e. 10% of the Equity Capital) in respect of capital paid up on March 31, 2009.
3. Re-appointment of Sri. S. V. Alagappan, Sri. C. S. K. Prabhu & Sri. K. Sadhasivam as Directors of the Company.
4. Re-appointment of M/s. P. N. Raghavendra Rao & Co. Chartered Accountants, Coimbatore, as Auditors of the Company to hold the office from the conclusion of this meeting till the conclusion of the next Annual General Meeting, on remuneration, terms & conditions.
5. Authority to the Board to borrow for the purposes of its business, apart from temporary loans obtained and or to be obtained from the Company's bankers in the ordinary course of business, a sum or sums of money not exceeding Rs. 750 Crores (Rupees Seven Hundred and Fifty Crores Only), excluding the interest accrued thereon, notwithstanding that such aggregate amount of borrowing outstanding at any one time may exceed paid up capital and its free reserves, that is to say, reserves not set apart for any specific purpose, from the Company's bankers or from any person or persons, firms, bodies corporate or financial institutions and by way of public deposits, advances or other loans whether unsecured or secured by mortgage, charge, hypothecation or pledge of any or all of the Company's assets and properties existing and future, on such terms and conditions as the Board of Directors may from time to time, deem fit, subject to necessary provisions & approvals. |
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