Poly Medicure - Notice of Postal Ballot
Poly Medicure Ltd has informed BSE that the members of the Company will consider to approve the following Ordinary Resolutions by way of Postal Ballot:
1. To borrow any sum or sums of money from time to time, notwithstanding that the money(s) to be borrowed together with the moneys already borrowed by the Company (apart from the temporary loans obtained from the Company's bankers in the ordinary course of Business) may exceed the aggregate of the paid-up capital of the Company and its free reserves, that is to say, reserves not set apart for any specific purposes provided however that the total amount so borrowed shall not exceed at any time Rs 200,00,00,000/- or equallant Foreign Currency.
2. To mortgage and / or create charge, in addition to the mortgages / charges already created or to be created by the Company, in such form and manner and with such ranking and at such time and on such terms as the Board may determine, on all or any of the movable and / or immovable properties of the Company, both present and future and / or the whole or any part of the undertaking(s) of the Company in favour of the lender(s) and agent(s) of lender(s) for securing the borrowing of the Company availed / to be availed by way of Term Loan / other borrowings (in foreign currency and / or Indian currency) subject to the limits approved under Section 293(1)(d) of the Companies Act, 1956, (i.e. Rs 200 Crore or equallant foreign currency) together with interest at the respective agreed rates, additional interest, compound interest in case of default, accumulated interest, liquidated damages, commitment charges, premia on prepayment, remuneration of the agent(s), all other costs, charges and expenses, including any increase as a result of devaluation / revaluation / fluctuation in the rates of exchange and all other monies payable by the Company in terms of the Loan Agreement(s) or any other document, entered into / to be entered into between the company and the lender(s) and agent(s) in respect of the said loans/other borrowings and continuing such specific terms and condition and covenants in respect of enforcement of security as may be stipulated in that behalf and agreed to between the Board of Directors or any committee(s) thereof and the lender(s) and agent(s).
The Company has appointed Shri. B K Sethi, Proprietor B K Sethi & Co., Company Secretaries as Scrutinizer for conducting the postal ballot process.
The Postal Ballot form duly completed should reach the Scrutinizer on or before the close of working hours on July 10, 2007. The Scrutinizer will submit his report to the Chairman of the Company after completion of the scrutiny and the result of the Postal Ballot will be declard by the Chairman / Managing Director / Company Secretary of the Company on July 16, 2007.
1. To borrow any sum or sums of money from time to time, notwithstanding that the money(s) to be borrowed together with the moneys already borrowed by the Company (apart from the temporary loans obtained from the Company's bankers in the ordinary course of Business) may exceed the aggregate of the paid-up capital of the Company and its free reserves, that is to say, reserves not set apart for any specific purposes provided however that the total amount so borrowed shall not exceed at any time Rs 200,00,00,000/- or equallant Foreign Currency.
2. To mortgage and / or create charge, in addition to the mortgages / charges already created or to be created by the Company, in such form and manner and with such ranking and at such time and on such terms as the Board may determine, on all or any of the movable and / or immovable properties of the Company, both present and future and / or the whole or any part of the undertaking(s) of the Company in favour of the lender(s) and agent(s) of lender(s) for securing the borrowing of the Company availed / to be availed by way of Term Loan / other borrowings (in foreign currency and / or Indian currency) subject to the limits approved under Section 293(1)(d) of the Companies Act, 1956, (i.e. Rs 200 Crore or equallant foreign currency) together with interest at the respective agreed rates, additional interest, compound interest in case of default, accumulated interest, liquidated damages, commitment charges, premia on prepayment, remuneration of the agent(s), all other costs, charges and expenses, including any increase as a result of devaluation / revaluation / fluctuation in the rates of exchange and all other monies payable by the Company in terms of the Loan Agreement(s) or any other document, entered into / to be entered into between the company and the lender(s) and agent(s) in respect of the said loans/other borrowings and continuing such specific terms and condition and covenants in respect of enforcement of security as may be stipulated in that behalf and agreed to between the Board of Directors or any committee(s) thereof and the lender(s) and agent(s).
The Company has appointed Shri. B K Sethi, Proprietor B K Sethi & Co., Company Secretaries as Scrutinizer for conducting the postal ballot process.
The Postal Ballot form duly completed should reach the Scrutinizer on or before the close of working hours on July 10, 2007. The Scrutinizer will submit his report to the Chairman of the Company after completion of the scrutiny and the result of the Postal Ballot will be declard by the Chairman / Managing Director / Company Secretary of the Company on July 16, 2007.
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