Sharon Bio-Medicine - Notice of Postal Ballot
Sharon Bio-Medicine Ltd has informed BSE that the members of the Company, will consider to approve by way of Postal Ballot, the following Special Resolutions:
1. To insert the New sub Clause No. 82 after the existing sub Clause No. 81 of other objects clause III (C) of the Memorandum of Association of the Company as follow:
82. To carry on all or any of the business of purchase, creators, generators, manufactures, producers, procures, suppliers, distributors, converters, processors, developers, stores, carries and dealers in, design or otherwise acquire to use, sell or transfer or otherwise dispose of electricity, steam, hydro or tidal, water, wind, eco thermal, biomass, biofuel, solar, hydrocarbon fuels, fuel handling equipments and machinery and fuel handling facilities thereto and any products or by products derived from any such business (including without limitation distillate fuel oil and natural gas whether in liquefied or vaporized form) or other energy of every kind and description and stoves, cookers, heaters, geysers, biogas, plant gas and steam lutines, boilers, boilers, generators, alternators, diesel generating sets and other energy devices and appliances of every kind and description.
2. Accorded to the Company commencing and carrying on business as stated in the Sub Clause No. 82 of Clause III(C) of the other objects clause of the Memorandum of Association of the Company specified in the foregoing special resolution.
3. For mortgaging and/or creating charge on such terms and conditions as the Board may deem fit, on all or any part of the movable and/or immovable properties of the Company wheresoever situated, both present and future, and on the whole of the undertakings of the Company (save and except the current assets that are or may be hypothecated and/or pledged in favour of the Company?s bankers for securing borrowings for working capital requirement) in favour of one or more Banks and for financial institutions and/or trustee/s of debenture holders and/or others to secure term loans borrowed / to be borrowed and/or debentures issued/ to be issued whether on a rights basis to the shareholders of the Company and/or to the public and/or to any other person or persons, in terms of any Loan Agreement/ Letter of Sanction/Memorandum or the terms and conditions/ Debenture Trust Deed entered into/to be entered into/ to be entered into by the Company in respect of such Finance and/or Debentures.
4. For borrowing from time to time, any sum or sums of monies which together with the monies already borrowed by the Company (apart from temporary loans obtained or to be obtained from the Company?s Bankers in the ordinary course of business), may exceed the aggregate of the paid up capital of the Company and is free reserves, by that is to say, reserves not set apart for any specific purpose, provided that the total amount so borrowed by the Company shall not at any time exceed the limit of Rs 1000 Crore (Rupees One Thousand Crore Only) plus paid up Capital and free reserves, subject to necessary provisions & approvals.
5. To amend the existing Article No. 78 by inserting a new sub-clause (d) after the existing sub-clause (c) of-the Articles of Association of the Company.
6. The existing Article No. 129 be and is hereby deleted and substituted by new Article No. 129 of the Articles of Association of the Company.
The Company has appointed Mr. Jagdish Patel, Company Secretary In Practice as, Scrutinizer for conducting the Postal ballot, process.
The duly completed postal ballot form should reach the scrutinizer on or before April 05, 2008. The Scrutinizer will submit his report to the Chairman after completing of the scrutiny and the result of postal ballot will be announced on April 07, 2008.
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