Shardul Securities - Result of Postal Ballot
Shardul Securities Ltd has informed BSE that the members of the Company by way of Postal Ballot, have passed the following resolutions, with requisite majority.
1. 10,00,000 (Ten Lacs) Cumulative Redeemable Preference shares of Rs 100 (Rupees Hundred) each as referred in the Authorised Share Capital of the Company is reclassified into 1,00,00,000 (One Crore) Equity Shares of Rs 10 (Rupees Ten) each and accordingly the relevant clause of the Memorandum be substituted by following clause:
V. The Authorised share capital of the Company is Rs, 30,00,00,000/- (Rupees Thirty
Crores) divided into 3,00,00,000 (Three Crore) equity shares of Rs 10/- each with power
to increase or decrease the same in accordance with the provision of the Companies Act,
1956.
Further resolved that, the authorized share Capital of the Company of Rs 30,00,00,000/- (Rupees Thirty Crores) divided into 3,00,00,000 (Three Crores) equity shares of Rs 10/- (Rupees Ten) each is increased to Rs 100,00,00,000/- (Rupees Hundred Crores) divided into 10,00,00,000 (Ten Crore) equity shares of Rs 10/- (Rupees Ten) each which shall rank pari passu with existing equity shares and that the existing clause-V of the Memorandum of Association of the Company be substituted by the following clause:
V. The Authorised share capital of the Company is Rs 100,00,00,000/- (Rupees
Hundred Crores) divided into 10,00,00,000 (Ten Crore) equity shares of Rs 10/- (Rupees
Ten) each with power to increase or decease the same in accordance with the provision
of the Companies Act 1956.
2. The existing clause - 5 of the Articles of Association of the Company be substituted by the following clause:
5. The authorized share capital of the Company shall be such sum as is stated in Cause V of the Memorandum of Association from time to time, with power to the Company to increase or decrease the capital of the Company in accordance with Articles of Association of the Company and to vary, modify, amalgamate or abrogate any such rights, privileges or condones in such manner as may for the time being be provided by the Articles of Association of the Company.
3. To alter the Object Cause of the Memorandum of Association of the Company by addition of the following sub clause 67, 68, 69, 70, 71 and 72 after sub clause 66 of existing clause III(C) of the Memorandum of Association:
67. To act as portfolio managers, portfolio advisors, to engage in the business of managing portfolio of securities, to manage investment pools, stocks, securities and finance, to mobilize and manage funds of any person or company investment in various securities including but not limited to stocks, shares, debentures, bonds, mutual fund units, bank deposits, pension funds, superannuation funds, derivatives, commodities etc. and to pass on the benefit of portfolio investments to the investors as dividend, bonus, interest and to provide complete range of portfolio management services and personal financial services.
68. To act and deal in consultancy, advisory and related services in the field of financial management, project appraisal, loan syndication, representation before banks, financial institutions and other authorities, financial planning & structuring, investment advisory, treasury management, corporate governance, corporate mergers, de-mergers, take over, acquisition, valuations, arbitration, settlement services, bankruptcy/insolvency services, human resources, BPO services, accounting services, trade related intellectual property rights, etc.
69. To promote, establish and manage a Asset Management Company through its subsidiary or otherwise for launching any Mutual Funds Schemes as may be permitted by Non Banking Financial Company rules and/or SEBI rules
70. To carry on business relating to real estate, development of business or commercial or industrial malls, Special Economic Zone, airport project, metro rail projects, roads and highways, Specific Agriculture Zones and all other business relating to general infrastructure sector and reality business
71. To carry on any activity relating to entertainment industry including hotel, cinema, auditorium, swimming pools, golf fields and other gymnasium activity.
72 To carry on any activity relating to marketing of insurance business including fire, marine, mediclaims and other general insurances.
4. Authorising the Board of Directors to contribute and / or subscribe and / or otherwise to assist from time to time to any national charitable, benevolent, public or general and other funds, and to an association or institution which has as its object the undertaking of any program of rural development approved by the prescribed authority under section 35CC of the Income-tax Act, 1961 and / or incur expenditure on any program of rural development and to divest any assets if any created thereby as provided in section 35CC of the Income?tax Act, 1961 notwithstanding that such contributions, subscriptions and expenditure do not directly relate to the business of the Company or the welfare of its employees, sum equivalent upto 10 per cent of net profit assessed for tax as per Income Tax Act, 1961 or Rs 10,00,00,000 (Rupees Ten Crores Only) which ever is lower, in any financial year of the Company, as may be considered proper by the Board notwithstanding that such amounts in any financial year may exceed Rs 50,000 or 5% of the Company?s average net profit as determined in accordance with the provisions of the Companies Act, 1956, during the three financial years immediately preceding, whichever is greater.
Tags: Shardul Securities