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 following Special Resolution :
1. Authority to the Board of Directors of the Company to make an investment of up to Rs 3000 Crores (Rupee Three Thousand Crores Only), in one or more tranches, by way of investment in the Equity Capital, of / making loans to / providing Security or Guarantee (s) for the loans granted to an existing or a new Company to be incorporated as a Special Purpose Vehicle, for implementation of the Ganga Expressway Project, with the name of Jaypee Ganga Infrastructure Corporation Ltd or such other name as may be made available by the Registrar of Companies, Uttar Pradesh & Uttaranchal, notwithstanding the fact that the aggregate of the investments so far made, securities so far provided, loans / guarantees do far given by the Company along with 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 provision and approvals.
The Company has appointed Shri. V P Kapoor, Practising Company Secretary, as Alternate Scrutinizer for the purpose of Postal Ballot exercise.
The Postal Ballot form duly completed Should reach the Company not later than the close of working hours on March 01, 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 03, 2008.
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