Beckons Industries – Outcome of Board Meeting
Beckons Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 25, 2009, inter alia, has discussed and decided the following:
1. Resolved to recommend the increase of Authorised Share Capital of the Company from Rs. 38.00 Crore to Rs. 80.00 Crore under the provisions of Section 16, 31 and 94 of the Companies Act, 1956 by the shareholders at their EOGM.
2. Resolved to seek the consent of shareholders under Section 81 (1A) of the Company Act, 1956 for issue of further capital on preferential basis to the promoters.
3. Approved to issue Global Depository Receipts (GDRs) for mobilizing the funds for the expansions & further development of existing products/technologies and setting up/acquisition of new projects and constituted the committee of Directors for deciding the appointment of concerned agencies involved, terms and conditions including the quantum of the issue etc.
4. Resolved to recommend the alteration of main objects of the Company for incorporating the object relating to the setting up of Wind Power Project in phased manner subject to the consent of the shareholders at the Extra Ordinary General Meeting pursuant to provisions of the Companies Act, 1956.
5. Resolved to hold Extra Ordinary General Meeting on December 29, 2009 for seeking consent of Shareholders for giving effect to the above items.
Source: BSE India
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Category: Company Annoucements
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