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| Exchange Disseminated Time | ISMT Ltd has informed BSE that the members at the 13th Annual General Meeting (AGM) of the Company held on September 30, 2011 inter alia, have transacted the following:
1. Audited Annual Accounts for the Financial Year ended March 31, 2011 were approved and adopted.
2. Dividend of Re. 1.25 per equity share having face value of Rs. 5/- each (25% of the paid-up capital) for the Financial Year 2010-2011 was approved.
3. Retiring Directors Mr. J. P. Sureka and Mr. Salil Taneja were re-appointed as Directors liable to retire by rotation.
4. J. K. Shah & Co., Chartered Accountants, and M/s. P. G. Bhagwat, Chartered Accountants, have been re- appointed as Joint Statutory Auditors of the Company to hold the office until the conclusion of the next Annual General Meeting.
5. The Company has been authorized under section 293 (1) (a) of the Companies Act, 1956 for mortgaging, hypothecating, charging and pledging and / or creating a floating charge and / or also to create liens, charges on all moveable and immovable properties of the Company up to an aggregate amount not exceeding Rs. 3,000 Crore.
6. The Company has been authorized under section 293 (1) (d) of the Companies Act, 1956 to borrow moneys where the moneys to be borrowed together with the moneys already borrowed by the Company exceed the aggregate of paid up capital and free reserves of the Company provided that the total sum of moneys so borrowed shall not at any time exceed Rs. 3000 Crore. |
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