Jaiprakash Associates - Notice of Postal Ballot
Jaiprakash Associates Ltd has informed BSE that the members of the Company will consider to approve by way of Postal Ballot the Special Resolution to make an investment of upto Rs 440 Crores (Rupees Four Hundred & Forty Crores) only to acquire upto 44,00,00,000 Equity Shares of Rs 10 each at par, in one or more tranches, in the Equity Share Capital of Jaypee Infratech Ltd, notwithstanding the fact that the aggregate of the investments so far made, securities so far provided, loans / guarantees so far given by the Company alongwith the proposed investment may exceed 60% of the paid up capital and free reserves of the Company or 100% of its free reserves, whichever is more, subject to necessary provisions & approvals.
The Company has appointed Shri. T V Narayanaswamy, FCS, Practicing Company Secretary as Scrutinizer and Shri. Samir Biswas, as Alternate Scrutinizer for the purpose of Postal Ballot exercise.
The Postal Ballot form duly completed Should reach the Scrutinizer not later than the close of working hours on March 27, 2008. The result of the Postal Ballot shall be announced by the Chairman, or in his absence by any other person, so authorized by the Chairman on March 28, 2008.
Tags: Jaiprakash Associates