|
| Exchange Disseminated Time | Shivam Autotech Ltd has informed BSE that the members of the Company, by way of Postal Ballot, will consider to approve, the following Ordinary Resolutions:
1. To borrow such sum or sums of moneys in any manner from time to time as may be required for the purpose of business of the Company with or without security and upon such terms and conditions as they may think fit, notwithstanding that moneys to be borrowed together with moneys already borrowed by the Company (apart from the temporary loans obtained from the Company's bankers in the ordinary course of business) may exceed the aggregate of the paid up capital of the Company and its reserves, that is to say, reserves not set apart for any specific purpose, provided that the total amount so borrowed by the Board of Directors for the Company and outstanding at any time shall not exceed the sum of Rs 200,00,00,000/-, subject to necessary provisions & approvals.
2. To mortgage and / or charge and / or hypothecate and continue the mortgage / charges / hypothecation created earlier, all the moveable and movable properties of the Company wheresoever situate, present and / or future and the whole or substantially the whole of the undertaking of the Company and / or conferring power to enter Upton and to take possession of the assets of the Company and / or to take over the management of the business or concern of the Company in certain eventualities to or in favour of all or any of the future lenders ("Financial Institutions and Banks"), to secure the due re-payment by the Company to the financial institutions and banks, provided that the total amount of such borrowings / loans(s) shall not exceed Rs 200 Crores (including foreign currency borrowing(s) / loan(s), together with the interest as a result of devaluation / revaluation / fluctuation in the rates of exchange of the foreign currencies involved, commitment charge, premium on pre-payment, costs, charges, expenses and other moneys payable by the Company in terms of Latter of Sanction and / or the Loan Agreements / Heads of Agreements entered into / to be entered into the Company in respect of the borrowing(s) / term loan(s), subject to necessary provisions & approvals.
The Company has appointed as Mr. Satyendra Kumar, Practising Company Secretary, as Scrutinizer for conducting Postal Ballot voting process in a fair and transparent manner.
The Postal Ballot forms duly completed should reach the Scrutinizer on or before June 07, 2007. The Scrutinizer will submit his report to the Chairman after completion of scrutiny and the results of the Postal Ballot will be announced on June 11, 2007. |
|
|