Videocon Appliances - Result of Postal Ballot
Videocon Appliances Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 31, 2008, inter-alia, has took on record the Postal Ballot Scrutiny Report received from Mr. Sheetal Kumar Dak, Company Secretary in Whole-Time Practice, and declared the following resolutions as passed:
1. Special Resolution for alteration of the “Main Objects” Clause of Memorandum of Association of the Company by inserting additional clause relating to providing, executing, implementing, hiring, working as EPC Contractors, providing turnkey services for industrial, activities and manufacturing, trading of all kinds of machineries, components engineering equipments etc.
2. Special Resolution for change the name of the Company from “VIDEOCON APPLIANCES LTD” to “VALUE INDUSTRIES LTD”, subject to necessary approval(s).
3. Special Resolution for authorizing the Board of Directors of the Company to make investments, extend guarantee, provide security, make inter corporate loans exceeding the limits specified under the Companies Act, 1956 upto an amount of Rs 10,000 Crores and confirm the guarantee(s) already given by the Board in accordance with the Provisions of the Companies Act, 1956.
4. Ordinary Resolution for authorizing the Board of Directors of the Company to borrow funds upto an amount of Rs 10,000 Crores, in terms of the provisions of the Companies Act, 1956.
5. Ordinary Resolution for authorizing the Board of Directors of the Company to sell, lease, mortgage or otherwise dispose off the whole or substantially the whole of undertaking of the Company upto an amount of Rs 10,000 Crores, as specified under the Companies Act, 1956.
The result of Postal Ballot was announced at the Twentieth Annual General Meeting of the Shareholders of the Company held on March 31, 2008.
Tags: Videocon Appliances