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| Exchange Disseminated Time | Nagreeka Exports Ltd has informed BSE that the members at the 18th Annual General Meeting (AGM) of the Company held on September 21, 2007, inter alia, have accorded to the following:
1. Adoption of the Balance Sheet of the Company for the year ended March 31, 2007 and the Profit & Loss Account for the year ended as on that date together with Schedules thereto alongwith the Directors Report and the Auditors Report.
2. Re-appointed Mr. M K Ogra, Mr. Mahendra Patwari & Mr. K C Purohit as Directors of the Company.
3. Declaration of payment of Dividend @15%, on the Equity Share Capital of the Company, for the year ended March 31, 2007.
4. Re-appointed M/s. Das & Prasad, Chartered Accountants, Kolkata, as the Statutory Auditors of the Company to hold office from the conclusion of this Annual General Meeting, till the conclusion of the next Annual General Meeting of the Company on remuneration, terms & conditions.
5. Re-appointment of Mr. Sushil Patwari as Managing Director of the Company for a period of 5 years with effect from October 01, 2006 on remuneration, terms & conditions.
6. Re-appointment Mr. K C Purohit as Whole Time Director of the Company for a period of 5 years with effect from October 01, 2006 on remuneration, terms & conditions.
7. Authority to the Board for borrowing any sum or sums of money from time to time from anyone or more of the Company’s Banker’s and/or from anyone or more persons, firms, Bodies Corporate, or Financial Institutions by way of Cash, Credit, Advance or Deposits, Loans or Bills discounting or otherwise and whether unsecured or secured by mortgage, charge, hypothecation or lien or pledge of the Company’s Assets and Properties whether movable or stock-in-trade and work-in-progress all or any of the undertakings of the Company, notwithstanding the moneys to be borrowed together with moneys already borrowed by the Company (apart from temporary loans obtained from the Company’s Bankers in the ordinary course of Business) will or may exceed the aggregate of the Paid-up Capital of the Company
and its free reserves, that is to say reserves not set apart for any specific purpose but so however, that the total amount upto which the moneys may be borrowed by the Board of Directors and outstanding at any time shall not exceed an amount Rs 500 crores exclusive of interest and the Board of Directors be and is hereby further authorised to execute such deeds of the debentures and debenture trust deed or mortgage, charge hypothecation, lien, promissory notes, deposits, receipts and other deeds and instruments or writings as they may consider proper and containing such conditions and covenants as the Board of Directors may think fit, subject to necessary provisions & approvals. |
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