Filmcity Media - Notice of Postal Ballot
Filmcity Media Ltd has informed BSE that the members of the Company will consider to approve by way of Postal Ballot the following Resolutions:
1. New Clause No 2 be inserted after the existing Clause No 1 of Main object clause III (A) of the Memorandum of Association of the Company as follows:
To carry on the business of Communication Technologies of printer, publisher, Distributor, editor, Creator of Magazines in different languages as proprietor or in partnership with firm, Companies and also to carry on the business of advertising and media agency in India and abroad and to acquire the necessary interest, rights, licenses quotas, benefits, permission, patent rights, secrets for these business and also to carry on business of Media, Communication and entertainment and to Produce or exhibit in India or abroad through satellite or by way of any other mode of communication or through buy, sell, run, import, export, and to act as brokers, agents, distributors, proprietors of all kinds of cinematography motion pictures, Television Software, Print Media, advertisement, product promotion, Telefilms, Documentary films, advertisement films, video films, publicity, Marketing Facilities and other activities relating to multiple entertainment television serials, cine films, slides and other entertainment software in all languages prevailing in India and abroad.
2. For mortgaging and / or creating charge on such terms and conditions as the Board may deem fit, on all or any part of the movable and / or immovable properties of the Company wheresoever situated, both present and future, and on the whole of the undertakings of the Company (save and except the current assets that are or may be hypothecated and / or pledged in favour of the Company?s bankers for securing borrowings for working capital requirement) in favour of one or more Banks and / or financial institutions and / or trustee/s of debenture holders and for others to secure term loans borrowed / to be borrowed and / or debentures issued / to be issued whether on a rights basis to the shareholders of the Company and / or to the public and / or to any other person or persons, interns of any Loan Agreement / Letter of Sanction / Memorandum or the terms and conditions / Debenture Trust Deed entered into / to be entered into by the Company in respect of such Finance and / or Debentures, subject to necessary provisions and approvals.
3. For borrowing from time to time, any sum or sums of monies which together with the monies already borrowed by the Company (apart from temporary loans obtained or to be obtained from the Company?s Bankers in the ordinary course of business), may exceed the aggregate of the paid up capital of the Company and its free reserves, by that is to say, reserves not set apart for any specific purpose, provided that the total amount so borrowed by the Company shall not at any time exceed the limit of Rs 250 Crore (Rupees Two Hundred Fifty Crore Only) plus paid up Capital and free reserves, subject to necessary provisions & approvals.
4. To alter the Articles of Association of the Company by addition of New Articles No. 185, 186 & 187 after the existing article 184 of the Articles of Association of the Company.
The Company has appointed Mr. Jagdish Patel, Practising Company Secretary as Scrutinizer for conducting the Postal Ballot process in a fair & transparent manner.
The Postal Ballot form duly completed should reach the Scrutinizer on or before April 05, 2008. The Scrutinizer will submit his report to the Chairman after the completing scrutiny and results of the postal ballot will be announced on April 10, 2008.
Tags: Filmcity Media