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| Exchange Disseminated Time | Jay Bharat Maruti Ltd has informed BSE that the members at the 24th Annual General Meeting (AGM) of the Company held on August 18, 2011 inter alia, have also accorded to the following:
1. Adoption of the audited Balance Sheet of the Company as at March 31, 2011 and Profit & Loss Account for the year ended March 31, 2011 along with Directors’ Report and Auditors’ Report thereon.
2. Declaration of dividend at the rate of Rs. 2.00/- (40%) per fully paid up equity share of the Company, for the Financial Year 2010 -11.
3. Re-appointment of Mr. Uday Chand Agarwal & Mr. Achintya Karati as Directors of the Company, liable to retire by rotation.
4. Re-appointment of M/s. Mehra Goel & Company, Chartered Accountants, as Auditors of the Company to hold office from the conclusion of this meeting until the conclusion of next Annual General Meeting of the Company on a remuneration, terms & Conditions.
5. Pursuant to provisions of section 293 (1 )(d) of the Companies Act, 1956 and all other enabling provisions, if any, in addition to all borrowings by the Directors for and on behalf of the company authorised by resolution passed at the Annual General Meeting held on 16th August 2010, namely, the borrowing of Rs. 300,00,00,000/- (Rupees Three Hundred Crores Only) the Company hereby consent to the further borrowing by the Board of Directors for and on behalf of the Company from time to time of further sums of money amounting in the aggregate to a sum of not more than Rs. 100,00,00,000 (Rupees One Hundred Crores Only) (excluding temporary loans obtained/ to be obtained from the Company’s bankers in the ordinary course of business), that is to say, to the total borrowing by the Board of Directors for and on behalf of the Company of an aggregate sum not exceeding Rs. 400,00,00,000 (Rupees Four Hundred Crores Only) notwithstanding that the monies already borrowed by the Company (apart from such temporary loans obtained or to be obtained from the Company’s bankers) 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, subject to necessary provisions & approvals.
6. Authority to the Board to mortgage /charge / lease or hypothecate all or any of the movable or immovable properties, both present and future or whole of the undertaking of the Company wheresoever situated to secure the borrowing in any manner upto an aggregate amount of Rs. 400 Crores (apart from such temporary loans obtained or to be obtained by the Company from their bankers to the ordinary course of its business) which may be made by the Company by placement of Non-convertible Debenture, Bonds or any other financial instrument or any assistance from any Financial Institution/State Financial institutional Banks etc. in any form, subject to necessary provisions & approvals. |
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