| ||Outcome of AGM | 12/20/2011 9:00:29 AM|| |
| ||Eastern Sugar & Industries Ltd has informed BSE that the members at the Annual General Meeting (AGM) of the Company held on December 15, 2011, inter alia, have accorded to the following:|
1. Adopted the Audited Balance Sheet of the Company as at June 30, 2011 and Profit & Loss account for the year ended as on that, together with the Auditors’ Report and the Directors’ Report and the Report on the Corporate Governance thereto; and
2. Re-appointed Mr. K. L. Darak as a Director of the Company, liable to retire by rotation; and
3. Re-appointed M/s. Vivek Jaiswal & Co., Chartered Accountants, as the statutory auditors of the Company to hold office until the conclusion of next Annual General Meeting of the Company: and
4. Approved increase in remuneration of Mr. S. J. Goswami, Wholetime Director with effect from September 01, 2011, all other terms and conditions of his appointment remaining the same; and
5. Authorized the Board of Director of the Company (which term shall include any Committee of the Board constituted/ to be constituted pursuant to provision of the Companies Act, 1956 read with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 (hereinafter referred to as 'said Regulations'), including amendments therein and subject to such approvals as may be necessary, to issue and allot 1,00,00,000 equity shares of Rs. 10/- each , on preferential basis, to the holders of Preference Shares of the Company, at such price as may be determined in accordance with the provisions of the said Regulations, the consideration for which shall be payable by way of conversion of each Preference Share of Rs. 100/- each into 10 Equity Share of Rs. 10/- each, to the extent of aggregate amount of Rs. 10.00 (Ten) crores, and balance by way of payment in cash.