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| Exchange Disseminated Time | GIC Housing Finance Ltd has informed BSE that the members at the 21st Annual General Meeting (AGM) of the Company held on July 27, 2011, inter alia, have accorded to the following:
1. Adoption of the Directors' Report, Audited Statement of Accounts of the Company and the Auditor's Report for the year 2010-11.
2. Declaration of dividend of 55% (including onetime special dividend of 10%) on the paid up equity capital for the year 2010-11.
3. Re-appointment of Shri. M K Tandon & Shri. Manu Chadha as Directors of the Company liable to retire by rotation.
4. Re-appointment of M/s. Contractor, Nayak & Kishandwala, Chartered Accountants, Mumbai as Auditors of the Company to hold office from the conclusion of this Annual General Meeting till the conclusion of the next Annual General Meting, on remuneration, terms & conditions.
5. Appointment of Shri. Ashok Kumar Roy & Shri. Shivendra Tomar as Directors of the Company, liable to retire by rotation.
6. In supersession of the Resolution passed at the Eighteenth Annual General Meeting held on July 29, 2008 consent be and is herby accorded to the Board of the Directors of the company pursuant to section 293(1)(d) of the Companies Act, 1956 and Article 66, 67 and 68 of the Articles of Association of the Company, for borrowing time to time any sum of money from Commercial Banks, financial institutions, Mutual Funds, Public Financial Institutions, National Housing Bank, Promoters, Foreign Financial Institutions, Provident Fund Trusts, Pension Funds or from any other person(s) or entities as term loans, through issue of Commercial Paper, through issue of Secured Redeemable Non Convertible Debentures on private placement basis which together with monies already borrowed by the company (apart from the temporary loans obtained from the bankers of the company in the ordinary course of the business) shall not exceed in the aggregate at any one time beyond Rs.6000 crores irrespectively of the fact such aggregate of amount of borrowing outstanding at any one time may exceed the aggregate for the time being of the paid-up capital of the Company and its free reserve, i.e. reserve not set apart for any specific purpose, subject to necessary provisions & approvals.
7. Alternation of Authorised Capital of the Company from Rs. 150,00,00,000/- (Rupees One Hundred and Fifty Crores only) each and 50,00,000 (Fifty Lakhs Only) Redeemable Cumulative Participating or Non Participating Preference Shares of Rs. 100/- (Rupees Hundred Only) amounting to Rs. 50,00,00,000/- to 15,00,00,000/- (Fifteen Crore only) Equity Shares of Rs. 10/- (Rupees Ten only) each by canceling 50,00,000 (Fifty Lakhs only) Redeemable Cumulative Participating or Non Participating Preference Shares of Rs. 100/- (Rupees Hundred only) each and increasing Equity Share Capital by corresponding 5,00,00,000 (Five Crore only) Equity Shares of Rs. 10/- (Rupees Ten only) each & consequential alternation in the Memorandum & Articles of Association of the Company. |
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