Tata Teleservices - Notice of Postal Ballot
Tata Teleservices Maharashtra Ltd has informed BSE that the members of the Company will consider to approve by way of Postal Ballot the following Resolutions:
1. To sell or dispose off or transfer the Passive Tower Infrastructure Undertaking (”Undertaking” which expression shall amongst other things include towers, shelters, diesel generator sets, air conditioners, associated cabling and infrastructure, related agreements, rights, licences, permits, consents, approvals, prepaid rent and deposits, the liabilities, with or without value of the debt allocable to the Undertaking but in any case shall exclude active electronics) on a “going concern basis” or otherwise to a wholly owned subsidiary of the Company to be formed for this purpose (”WOS”) at a price not less than net written down book value of the Undertaking (net of debt if transferred) and with effect from such date as may be determined by the Board and on such terms and conditions as the Board may deem and consider appropriate, subject to necessary provisions & approvals.
2. Appointment of Dr. Mukund Rajan as the Managing Director of the Company for a period of 5 years w.e.f. February 28, 2008, on remuneration, terms & conditions.
The Company has appointed Mr. Makarand Joshi, Practicing Company Secretary, as the Scrutinizer for conducting the Postal Ballot process in a fair and transparent manner.
The Postal Ballot form duly completed should reach the scrutinizer on or before May 22, 2008. The Chairman or any person authorized by the Chairman, shall announce the result of Postal Ballot on or before May 29, 2008.
Tags: Tata Teleservices