Dagger Forst - Outcome of Board Meeting
Dagger Forst Tools Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 29, 2008, inter alia, has approved the following:
1. Increase in Authorised Capital (from Rs 15 crores to Rs 30 crores) and alteration of Memorandum of Association.
2. Alteration in capital clause of the Articles of Association of the Company.
3. Increase in Borrowing Powers u/s 293(1)(d) of the Companies Act, 1956.
4. Creation of Charge / mortgage / hypothecation of the Company u/s 293(1)(a) of the Companies Act, 1956.
5. Raising of further funds to the extent of Rs 50 crores in Indian Rupees / Foreign Currencies to augment its requirements for capital expenditure and working capital.
6. Increase in limits for FII investment to 74%.
The Board of Directors of the Company has decided to obtain the approval of the Members of the Company for the above matters through postal ballot pursuant to Section 192A of the Companies Act, 1956 read with the Companies (Passing of the Resolutions by Postal Ballot)
Rules 2001.
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