Indus Networks - Notice of Postal Ballot
Indus Networks Ltd has informed BSE that the members of the Company will consider to approve, by way of Postal Ballot, the Special Resolutions as under:
1. To change in control and management of the Company under Regulation 12 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations 1997 by designating, Mr. K Sudhir as the promoter director of the Company to have control over the Company and its management in replacement of the existing promoter director - Mr. S T Prasad, who along with the persons acting in concert have control over the Company as on date, subject to necessary provision and approvals.
2. Appointment of Shri. K Sudhir, Director of the Company as Managing Director of the Company for a period of 5 years w.e.f. March 26, 2008, subject to necessary provisions and approvals.
Mr. Y Ravi Prasada Reddy, Practicing Company Secretary, has been appointed 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 not later than the close of working hours on April 28, 2008. The scrutinizer will submit his report to the Managing Director of the Company after completion of the scrutiny and the results of the postal ballot will be announced by the Managing Director of the Company on April 28, 2008.
Tags: Indus Networks