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| Exchange Disseminated Time | Jayant Agro Organics Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 05, 2014,
have taken the following decisions:
1. To conduct Postal Ballot, pursuant to Section 110 of the Companies Act, 2013 to obtain approval of shareholders, by passing a Special Resolution for
a. Borrowing of money up to Rs. 700 Crore under Section 180 (1) (c) of the Companies Act, 2013 where the money to be borrowed together with the money already borrowed by the company will exceed aggregate of its paid-up share capital and free reserves, apart from temporary loans obtained from the Company’s bankers;
b. Creating mortgages, charges, hypothecation etc. on the Company’s assets, undertaking properties, under Section 180 (1) (a) to secure the borrowings of the Company.
c. Giving of loan to anybody corporate or providing guarantee or security to any body corporate or acquiring by way of subscription, purchase of otherwise securities of any body corporate in excess of the limits specified under Section 186 (3) of the Companies Act, 2013 up to Rs. 700 Crore.
2. Appointment of M/s. V. V. Chakradeo & Co., Practicing Company Secretaries, as scrutinizer for conducting the Postal Ballot voting process, pursuant to Section 110 of the Companies Act, 2013 and rule 22 of the Companies (Management and Administration) Rules, 2014. |
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