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IOL Chemicals And Pharmaceuticals Limited, Punjab

IOL Chemicals And Pharmaceuticals Limited, Punjab

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20th September 2008
OUTCOME OF THE 21ST ANNUAL GENERAL MEETING HELD ON 20.09.2008


The members of the Company in its Annual General Meeting held on 20th September, 2008 at the Registered office of the Company, Trident Complex, Raikot Road, Barnala, have approved the following matters by way of passing the ordinary/special resolutions with or without modifications unanimously:

  • Adoption of the audited Balance Sheet as at 31st March, 2008 and Profit & Loss Account for the year ended on that date alongwith the Reports of the Auditors and Directors thereon.
  • Appointment of Sh. Varinder Gupta as director of the Company, who retires by rotation and being eligible offered himself for re-appointment.
  • Appointment of Dr. M A Zahir as director of the Company, who retires by rotation and being eligible offered himself for re-appointment.
  • Appointment of Sh Chandra Mohan as director of the Company, who retires by rotation and being eligible offered himself for re-appointment.
  • Appointment of Dr. (Mrs) H K Bal as director of the Company, who retires by rotation and being eligible offered herself for re-appointment.
  • Appointment of Mrs Dimple Gupta as director of the Company, who retires by rotation and being eligible offered herself for re-appointment.
  • Appointment of M/s S C Vasudeva & Co. , Chartered Accountants, New Delhi as Statutory Auditors of the Company in the place of M/s K K Kapoor & Associates, Chartered Accountants, the retiring Auditors of the Company as they have shown their unwillingness to be re-appointed as Statutory Auditors of the Company.
  • Appointment of Sh Ravi Pratap Singh as a director of the Company, who was appointed as an additional director on the Board w.e.f. 31.07.2008.
  • Appointment of Sh R K Thukral as a director of the Company, who was appointed as additional director on the Board w.e.f 31.07.2008.
  • Appointment of Sh R K Thukral as an executive director of the Company for a period of five years w.e.f 31.07.2008.
  • Authorisation of the Board of Directors of the Company to borrow moneys not exceeding 500 crores (Rupees five hundred Crores).
  • Authorisation of the Board of Directors of the Company for the creation of charges on the immovable/movable assets of the Company for securing the borrowings not exceeding 500 crores (Rupees five hundred Crores).
  • Approval to the alteration in Articles of Association of the Company.
  • Approval to the Issue of Securities to Qualified Institutional Buyers (QIBs) in accordance with the provisions of Chapter XIII A of SEBI (DIP) Guidelines,2000 for an amount not exceeding 100 crores (Rupees One hundred crores) .
  • Approval to the raising of resources through issue of securities in the international market upto US Dollars 25 (twenty five) Millions.
  • Approval to the increase in sitting fees of Non Executive directors for attending the Board and Committee meetings to 7,500 and 5,000 respectively.






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