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| Exchange Disseminated Time 10/11/2016 18:06:47 | Binny Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 08, 2016, inter alia, has transacted the following;
1. Considered and approved to cancel the proposal of the Company for purchase of 37.20MW Wind Farm from M/s. Mohan Breweries and Distilleries) Limited (MBDL), a related party and to recall the advance amount paid to MBDL in this regard.
2. Considered and approved the proposal of the Company to put up a new 50 MW Wind Farm Project subject to the approval of the shareholders for the alteration of Object Clause in the Memorandum of Association of the Company in this regard.
3. Considered and approved the alteration of the main-object clause in the Memorandum of Association of the Company for entering into the business of generation and distribution of power through renewable energy sources such as wind mills, solar system, Bio-Mass, Bio-Gas etc., subject to the approval of the Shareholders by way of Spccial Resolution through Postal Ballot pursuant to Section 13 of the Companies Act, 2013 read with relevant rules and all other applicable provisions if any, of the Act and SEBI Regulations.
4. Approved the proposal to reconstitute the Audit Committee with the inclusion of one more Independent Director Shri. T. Radhakrishnan, making the total strength of Independent Directors to four. |
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