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| Exchange Disseminated Time | Zenzy Technocrats Ltd has informed BSE that the members of the Company will consider to approve by way of Postal Ballot the following Resolutions as under:
1. To alter the existing main object clause III (A) by insertion of the following new clause 1A after the existing Clause 1:
(1A) To carry on the business as developers, builders, contractors, estate agents, engineers, consulting engineers, supervisors, management consultants, advisors, architects, erectors, constructors, interior decorators of building, convention centre, business centre, club house, entertainment centre, roads infrastructure facilities, school, colleges, hospital, malls, retail spaces, shopping arcade, house, apartment, structures, shelters, warehouses and or residential, office, industrial, institutional or commercial complex, Co-operative housing Societies, township, holiday resorts, hotels, motels, information technology parks, special economic zones, special tourism Zones., and any such special zones and to purchase, sale, resale, trade, transfer, give, on leave, and License, or to do business of the above in any manner whatsoever.”
2. Commencement of New Business Activities:
- For the commencement of business, as provided in Clause (1A) under the Clause III (A) of the Main Objects of the Memorandum of Association of the Company.
3. Increase in the Borrowing Powers of the Company:
- To borrow monies from time to time, either by way of rupee loans or by way of foreign currency loans or by way of issue of debentures or by issue of any other instruments and either from Company’s Bankers or from any other Bank / Financial Institution or from any other Lending Institution or Bodies Corporate or other persons, on such terms and conditions and covenants stipulated and as may be considered appropriate by the Board of Directors, notwithstanding that the monies to be borrowed together with the monies 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, so that the total amount upto which such monies may be borrowed by the Board of Directors and outstanding at any time shall not exceed by more than Rs. 500 Crores (Rupees Five Hundred Crores) over and above the aggregate of the paid up capital and free reserves of the Company for the time being, exclusive of interest and other charges, subject to necessary provisions & approvals.
4. To create charge / Hypothecate / Mortgage Property of the Company:
- To create and / or charge and /or hypothecate in addition to other mortgages / charges / hypothecation created by the Company as the Board may direct from time to time, on all or any of moveable and / or immovable properties and assets of the Company, both present and future and / or the whole or any part of the undertaking(s) of the Company together with power to take over the management of business and concern of the Company in certain events of default in favour of the Financial Institutions / Banks / Trusts / Mutual Funds and other lenders for securing the loans / finance sanctioned to the Company, securities such as fully / partly convertible debentures and / or other non-convertible debentures or other debt instrument(s) issued by the Company together with interest, additional interest, liquidated damages, commitment charges, remuneration of the Trustee, premium (if any) on redemption, all other costs, charges and expenses payable by the Company in terms of the loan agreement, trust deed and all such agreements / documents as may have been executed between the parties, subject, however to the total outstanding amount at anytime so secured not exceeding the amount consented by the Company by the Resolution passed by virtue of postal ballot pursuant to Section 293(1)(d) of the Companies Act, 1956 or upto the higher amounts as may be so consented by the Company from time to time in future.
The Board of Directors has appointed Mr. D. A. Kamat of M/s. D. A. Kamat & Co., Practicing Company Secretary, as the Scrutinizer for conducting the Postal Ballot process in a fair and transparent manner.
The Postal Ballot form duly completed should reach the scrutinizer on or before the close of working hours on or before the December 26, 2009. The scrutinizer will submit his report to the Chairman after completion of the scrutiny and the results of the postal ballot will be announced by the Chairman of the Board or any of the Directors of the Company, duly authorized by the Chairman of the Board on December 29, 2009. |
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