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| Exchange Disseminated Time | Gangotri Textiles Ltd has informed BSE that the members at the 17th Annual General Meeting (AGM) of the Company held on September 30, 2006, inter alia, have accorded to the following:
1. Adoption of the Directors’ Report, Profit & Loss Account for the year ended March 31, 2006 and the Balance Sheet as at that date and the Auditors’ Report.
2. Re-appointment of Sri Mohanlal Tibrewal and Sri S Palanisamy, as Directors of the Company.
3. Re-appointment of M/s Thakkar & Sanghani, Chartered Accountants, Coimbatore and
M/s Sri Kishen & Co, Chartered Accountants, Coimbatore, as the Auditors of the Company to hold office from the conclusion of this Annual General Meeting till the conclusion of the next Annual General Meeting, on remuneration, terms and conditions.
4. Appointment of Sri Manoj Kumar Tibrewal, as Managing Director of the Company for a period of five years with effect from April 01, 2007 to March 31, 2012 and the payment of remuneration for a period of three years with effect from April 01, 2007 to March 31, 2010, on terms and conditions.
5. Revision of remuneration to Sri Mohanlal Tibrewal, the Executive Director of the Company for the period of three years with effect from October 01, 2006 to September 30, 2009.
6. Authority to Board to borrow from time to time any sum or sums of money with or without security and upon such terms and conditions as they may think fit, notwithstanding that the monies to be borrowed by the Company (apart from Company’s Bankers in the ordinary course of business) 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 purposes provided however, that the total amount so borrowed by the Board of Directors shall not exceed a sum, of Rs 1,000,00,00,000/- at any one time, subject to necessary provisions and approvals.
7. Delisting the Equity Shares of the Company from Calcutta Stock Exchange Association Ltd, Madras Stock Exchange Ltd and Coimbatore Stock Exchange Ltd. |
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