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| Exchange Disseminated Time | GTN Textiles Ltd has informed BSE that the members at the 6th Annual General Meeting (AGM) of the Company held on July 29, 2011, inter alia, have accorded to the following:
1. Adoption of Audited Balance Sheet as at March 31, 2011 and the Profit & Loss Account for the year ended on that date together with Reports of the Board of Directors and Auditors thereon.
2. Re-appointment of Shri. N K Bafna & Shri. Prem Malik as Directors of the Company.
3. Re-appointment of M/s. M. S. Jagannathan & Visvanathan, as Statutory Auditors of the Company from the conclusion of this Annual General Meeting until the conclusion of the next Annual General Meeting of the Company, on remuneration, terms & conditions.
4. Authority to the Board for creating such charges, mortgages and hypothecations in addition to the existing charges, mortgages and hypothecations created by the Company, on such movable and immovable properties of the Company wheresoever situate, both present and future and of conferring power to enter upon and to take possession of the assets of the Company in certain events, to or in favour of Central Bank of India (CBI) and State Bank of Travancore to secure on pan passu second charge basis:
i) Additional working capital limits of Rs. 1640 lacs lent and advanced by Central Bank of India (CBI) to the Company;
ii) Additional Working Capital limits of Rs. 740 lacs lent and advanced by State Bank of Travancore (SBT) to the Company. |
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