| | | | Notice of Postal Ballot | 8/30/2011 11:33:25 AM | | | | Arihant Superstructures Ltd has informed BSE that the members of the Company will consider to approve by way of Postal Ballot the following resolutions:
1. Accorded to the Board of Directors of the Company the following;
- For the making of the investments including corporate guarantees/ securities provided/loans and advances, etc not exceeding Rs. 35,00,00,000 (Rupees Thirty Five Crores only) in Arihant Abode Ltd (AAL) including the earlier limit sanctioned under Section 372A of Company Act, 1956 by members.
- For the making of the investments including corporate guarantees/ securities provided/loans and advances, etc not exceeding Rs. 7,00,00,000 (Rupees Seven Crores only) in Arihant Vatika Realty Private Ltd (AVRPL) including the earlier limit sanctioned under Section 372A of Company Act, 1956 by the members.
- For the making of the investments including acqusitision of shares/corporate guarantees/ securities provided/loans and advances, etc not exceeding Rs. 25,00,00,000 (Rupees Twenty Five Crores only) in Arihant Gruhnirman Private Ltd
Provided the aggregate of such investment including corporate guarantees/ securities provided/loans and advances, etc shall not exceed the amount of Rs. 67,00,00,000 (Rupees Sixty Seven Crores only) over and above the limits prescribed under the provisions of Section 372A of the Companies Act, 1956.
2. To create, offer and issue to such of those Members of the Company, whose names appear on the Register of Members of the Company, as on the record date (to be affixed by the Board for his purpose) such number of Equity Shares of Rs. 1/- each of the Company for such sum or sums (including premium, if any) not exceeding in the aggregate Rs. 20,00,00,000 (Rupees Twenty Crores only), as may be determined by the Board in this regard, (the "Rights Issue") in such ratio and at such price, and in such manner, and on such time and in such terms and conditions, as the Board may in its absolute discretion deem fit/ appropriate or as may be mentioned in the Letter of Offer/ Abridged Letter of Offer/ Composite Application Form to be issued by the Company, in respect of the Rights Issue.
The Board of Directors has appointed Miss Rachana Kamat, Practicing Company Secretary as the Scrutinizer to receive and scrutinize the completed ballot papers from the Shareholders.
Duly completed the Postal Ballot form should reach in Scrutinizer on or before September 24, 2011. The Scrutinizer will submit her report to the Chairman after completion of scrutiny on September 26, 2011 at the Registered Office of the Company. | |
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