Jindal Steel - Outcome of Board Meeting
Jindal Steel & Power Ltd has informed BSE that the Board of Directors has, through resolution by circulation on June 16, 2008 taken the following decisions:
1. To seek shareholders’ approval for authorizing the Board of Directors to make investments, give loans / guarantees and provide securities to other bodies corporate in excess of the limits prescribed under Section 372A of the Companies Act, 1956.
2. To seek shareholders’ approval for altering the Article 113 of Articles of Association in terms of Section 31 read with Section 259 of the Companies Act, 1956 for increasing the maximum strength of Board of Directors from 12 to 18.
3. To seek approval of Shareholders for above purposes through Postal Ballot.
4. Appointment of Shri. Umesh Pandey, Chartered Accountant as Scrutinizer for above purpose.
5. Authorization of Shri. Vikrant Gujral, Vice Chairman & Chief Executive Officer, Shri. Anand Goel, Deputy Managing Director and Shri. T K Sadhu, Company Secretary to take all necessary steps to conduct postal ballot.
6. June 20, 2008 is cut off date for the purpose of ascertaining the list of shareholders to whom notice of Postal Ballot will be sent.
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