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| Exchange Disseminated Time | Gandhimathi Appliances Ltd has informed BSE that the members at the 19th Annual General Meeting (AGM) of the Company held on September 30, 2005, inter alia, have accorded to the following:
1. Adoption of the Audited Balance Sheet as at March 31, 2005, Profit and Loss Account for the year ended on that date and the Reports of the Directors and Auditors of the Company with cash flow Statement for the year.
2. Re-appointment of Mr V R Sivaraman and Mr V M Lakshminarayanan as Directors of the Company, liable to retire by rotation.
3. Re-appointment of M/s Rudhrakumar Associates, Chartered Accountants, Chennai as Auditors of the Company to hold office from the conclusion of this AGM till the conclusion of the next AGM.
4. Authority to the Board to create a mortgage / charge on the assets of the Company, to secure the borrowings of the Company, in favour of all or any of the following, namely:
ON FIRST CHARGE BASIS TO:
a) IDBI Ltd of its Term Loans of Rs 25 million, Rs 6 million, and Rs 30 million, respectively.
b) IIBI Ltd of its Rupee Term Loan of Rs 20 million.
ON SECOND CHARGE BASIS TO:
a) SBT of its Fund based Working Capital Term Loan / Working Capital facilities aggregating Rs 50 million.
b) BOB of its Fund based Working Capital Term Loan / Working Capital facilities aggregating Rs 15 milllion.
c) SIB of its Fund based Working Capital facilities aggregating Rs 25 million.
5. Amendment of Articles of Association of the Company. |
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