Goldstone Infratech Ltd has informed BSE that the Board of Directors of the Company at its meeting held on June 25, 2008, inter alia, has transacted the following:
1. Co-opted Mr. Sukesh Gupta as Additional Director of the Company with effect from June 25, 2008, and
2. Co-opted Mr. Dhakan Kishore Ratilal as Additional Director of the Company with effect from June 25, 2008.
Goldstone Infratech Ltd has informed BSE that the members of the Company, by way of Postal Ballot, have approved the following resolutions with requisite majority:
1. To invest an amount not exceeding Rs 150.00 crore, in one or more trenches, in the Equity Capital of T F SolarPower Pvt Ltd on such terms and conditions as the Board may deem fit.
2. To increase the Borrowing Powers of the Company upto a sum of Rs 150 crores (Rupees One Hundred and Fifty Crore) over and above the aggregate of the then paid up capital of the Company and its free reserves (that is to say reserves not set apart for any specific purpose).
3. Power to create charge on the assets of the Company to the extent of Borrowings.
Goldstone Infratech Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 29, 2008, inter alia, has transacted the following:
1. Decided to conduct Postal Ballot for seeking members approval for (a) investing an amount not exceeding Rs 150.00 crore in the Equity Capital of T F Solarpower Pvt Ltd under Section 372A; (b) Increasing the Borrowing Powers of the Board and authorization for creation of charge on assets up to a sum of Rs 150.00 crore (Rupees One Hundred and Fifty Crore)
2. Appointed Mrs. Savita Jyoti, a Practicing Company Secretary of Hyderabad, as Scrutinizer for Postal Ballot.
Goldstone Infratech Ltd has announced that it was foraying into the renewal energy space by setting up a 5 MW solar power plant and a production facility to manufacture photo voltaic modules for solar power generation.
The manufacturing facility, which will have a capacity of 40 MW per annum, will be located in Hyderabad, L P Sashikumar, Managing Director of Goldstone Infratech Ltd.
“With the government of India giving the importance that is due to renewable sources of energy, we at Goldstone Infratech Ltd decided that the time was ripe for us to enter the energy sector, via solar power generation,” Mr. L P Sashikumar said.
“The photo-voltaic modules will be manufactured and marketed to other solar energy developers globally. We believe the market for such modules is substantial,” Mr. L P Sashikumar said.
Goldstone Infratech Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 05, 2008, inter alia, has considered and approved the following:
1. Proposal to Set-up 5 MW Solar Power Generation Plant.
2. Proposal to Set Up 40 MW plant for Manufacture of Solar Photo Voltaic Module.
3. Proposal to take up Real Estate Activity.
4. Re-Appointment of Mr. L P Sashikumar as Managing Director of the Company.