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| Exchange Disseminated Time | Birla Corporation Ltd has informed BSE that members of the Company will consider the following resolutions by way of Postal Ballot :
1. Amendment to the Object Clause of the Memorandum of Association of the Company:
- To amend the Object Clause of the Memorandum of Association of the Company in the manner set out hereunder:
(A) The existing Sub-clause (17E) under Clause 3. of the Memorandum of Association of the Company be substituted.
(B) The new Sub-clause (9A) be inserted after the existing Sub-clause (9) under Clause 3. of the Memorandum of Association of the Company
(C) The new Sub-clauses i.e. (17L), (17M) and (17N) be inserted after the existing Sub-clause (17K) under Clause 3. of the Memorandum of Association of the Company.
(D) The existing Sub-clauses (29) and (35) under Clause 3. of the Memorandum of Association of the Company be substituted by the new Sub-clauses.
2. Creation of Security/Charge
- Authority to the Board of Directors of the Company (which term shall be deemed to include any Committee of the Board constituted/to be constituted to exercise its powers) to create mortgage(s) and/or charge(s) and/or hypothecation(s) in addition to the mortgage(s) / charge(s) / hypothecation(s) created / to be created by the Company, in such form and manner and with such ranking and at such time and on such terms as the Board may determine, on all or any of the movable and/or immovable properties and assets of all kinds of the Company, both present and future and/or the whole or any part of the undertaking(s) of the Company in favour of the Financial Institution(s) / Banks / Lender(s) / Agent(s) and Trust(s) / Trustee(s) for securing the borrowings availed / to be availed by the Company, by way of loan(s) (in foreign currency and/or rupee currency) and securities (comprising fully/partly Convertible Bonds / Debentures / Warrants and/or Non Convertible Debentures or other debt instruments) issued/to be issued by the Company from time to time, subject to the limits approved under Section 293(1)(d) of the Companies Act, 1956, together with interest, premium (if any) on redemption, all other costs, charges and expenses and all other monies payable by the Company in terms of the Loan Agreement(s) / Heads of Agreement(s), Debenture Trust Deed(s) or any other document, entered into/to be entered into between the Company and the Lender(s) / Agent(s) and Trust(s) / Trustee(s), in respect of the said loans / borrowings / bonds / debentures / warrants and containing such specific terms and conditions and covenants in respect of enforcement of security as may be stipulated in that behalf and agreed to between the Board of Directors or Committee thereof and the Lender(s)/Agent(s) and Trust(s)/Trustee(s), subject to necessary provisions and approvals.
The Board of Directors of the Company has appointed Shri Anil Murarka, Company Secretary in Whole-time Practice, as the Scrutinizer for conducting the Postal Ballot process.
The results of the Postal Ballot will be declared on June 17, 2010 |
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