Claro India Ltd has informed BSE that the members of the Company will consider to approve by way of Postal Ballot the special resolution to alter the Object Clause (III) (A) of the Memorandum of Association of the Company relating to the main objects in the following manner:
(i) The following clauses 2 to 5 be included after the existing clause 1.
2. To manufacture, buy, sell import, export, trade and deal in chemicals, chemical compounds, chemical products, acids, alkalis, petrochemicals, chemical medicines, pharmaceuticals, antibiotics, tannin, tannin extracts, essences, dyes, dye stuff, intermediate, bio-chemicals and sizing, bleaching, photographic materials, resin and all their varieties namely liquid resins, power resins, paper resins, resin solutions, cellulose and celluloid substance, synthetic products and substances and any other materials and substances and their products and compounds of any description and kind.
3. To carry on the business of manufacturers, importers, exporters and dealers in all kinds and classes of paper, board, corrugated board, corrugating medium and pulp including writing paper, printing and all kinds of articles in the manufacture of which in any form paper, board or pulp is used and also to deal in or manufacture any other articles made fully or partly of paper for domestic, household, educational, commercial, industrial, government or public use.
4. To carry on the business of manufacturers, processors, importers, exporters, buyers, sellers and dealers in all kinds of yarns, and fibres whether synthetic, artificial or natural, nylon, polyester polypropylene, acrylics, rayon, silk, linen, cotton, wool, jute and any other fibre or fibrous materials, whether synthetic, artificial, or natural textile, substances, allied products, by products and substitutes for all or any of them, to treat and utilize any waste arising from any such manufacture, production or process whether carried on by the Company or otherwise and to deal in all other materials, equipments, stores used therein or in relation thereto and of their intermediary products, other allied products or substances or substitutes for all or any of them and the business of manufacturing, bleaching, printing, dying, combing and dealing in yarn cloth, linen and other goods and fabrics whether textiles, netted, looped and to transact all and manufacturing or curing, preparing and processes in connection therewith.
5. To carry on the business of manufacturers and dealers, importers, exporters of oil and colour paints of all types and all kinds including lacquers, enamels, paints varnishes, solvents, components, chemical preparations, oils distempers, dry colours, minerals, disinfectants, insecticides, fungicides, deodorants, turpentine, painting brushes that can be manufactured or deal with in connection with the business of the Company and compounds, derivatives, intermediates and by-products of all or any of them.
(ii) the rest of the clauses of the object clause of the memorandum of association of the Company be re-numbered accordingly.
The Board of Directors has appointed Mr. R Sridharan of M/s. R Sridharan & Associates, Company Secretaries, Chennai, as the Scrutinizer for conducting the Postal Ballot process in a fair and transparent manner.
The Postal Ballot form duly completed should reach the scrutinizer before the closing of working hours on April 04, 2008. The scrutinizer will submit his report to the Chairman or any Director of the Company after completion of the scrutiny and the results of the postal ballot will be announced by Mr. B L Damani, Director of the Company on April 05, 2008.