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| Exchange Disseminated Time | House of Pearl Fashions Ltd has informed BSE that the members at the 19th Annual General Meeting (AGM) of the Company held on August 29, 2008, inter alia, have also transacted the following:
1. Adoption of the Audited Annual Accounts of the Company for the Financial Year ended March 31, 2008 including Consolidated Accounts and the Reports of the Directors and Auditors thereon.
2. Re-appointment of Dr. A P Bhupatkar & Mr. S B Mohapatra as Directors of the Company.
3. Re-appointment of M/s. S R Dinodia & Co., Chartered Accounts, as Auditor of the Company to hold office from the conclusion of this Annual General Meeting until the conclusion of the next Annual General Meeting of the Company, on remuneration, terms & conditions.
4. Re-appointment of Mr. Pulkit Seth as Managing Director of the Company for a period of five (5) years commencing from June 01, 2008 on remuneration, terms & conditions.
5. Authority to the Board of Directors of the Company to make investments, loans, give guarantees and securities, upto a maximum of four (4) times of the limits prescribed under the section being higher of 60% of the aggregate of paid up share capital and free reserves, or 100% of the free reserves of the Company.
6. The issue of Corporate Guarantee in favor of Honkong and Sanghi Banking Corporation Ltd, Hong Kong, on behalf of its subsidiary, Norwest Industries Ltd (being a subsidiary of Multinational Textiles Group Ltd, a wholly owned subsidiary of the Company) for HK Dollar 300 Million, is approved and ratified. |
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