| ||Notice of Postal Ballot | 11/11/11 18:49|| |
| ||Binani Industries Ltd has informed BSE that the members of the Company will consider to approve by way of Postal Ballot the following Special Resolutions:|
1. Authority to the Board of Directors of the Company to :-
(a) Make any loan to any other body corporate;
(b) Give any guarantee, or provide any security, in connection with a loan made by any other person to, or to any other person by, any body corporate; and
(c) Acquire by way of subscription, purchase or otherwise the securities of any other body corporate,
in addition to the guarantees already given, security(ies) already provided, investments already made and loans already given, in the aggregate sum not exceeding Rs. 6,250 Crores (Rupees Six Thousand Two Hundred Fifty Crores only) as detailed in the notice on such terms and conditions as the Board may think fit or expedient notwithstanding that the aggregate of the loans and investments so far made, the amounts for which guarantee or security so tar provided to or in all other bodies corporate, alongwith the investments, loans, guarantees or security(ies) proposed to be made or given by the Board exceeds the percentage of limits prescribed in Section 372A (1) of the Companies Act, 1956, subject to necessary provisions and approvals.
The Company has appointed CS Ms. Uma Lodha, a Practising Company Secretary to act as Scrutinizer for conducting the postal ballot process in a lair and transparent manner.
Duly Completed the Postal Ballot form should reach to the Scrutinizer before the closing of working hours (5.30 p.m.) on December 08, 2011. The Scrutinizer will submit his report to the Chairman or any Director of the Company after the completion of the scrutiny of the postal ballots. The Chairman or any Director of the Company will announce the results on December 12, 2011 at the Registered Office of the Company.