Prajay Engineers Outcome Of Board Meeting (17-Feb-2010)
Prajay Engineers Syndicate Ltd has informed that the Board of Directors of the Company at its meeting held on February 17, 2010, inter alia, has decided to convene an Extra Ordinary General Meeting of the Company on March 15, 2010 to transact the following business:
1. To increase the Authorised capital of the Company to Rs. 250 crores.
2. To alter Memorandum and Articles of Association of the Company consequent to authorised capital increase.
3. To Re-appoint Mr. N. Ravinder Reddy, Mr. Sumit Sen & Mr. K. Ravi Kumar as Whole Time Directors.
4. To consider issue of GDRs / FCCBs / QIP for an aggregate amount of US $ 150 million.
5. To increase the borrowing powers of the Company upto Rs. 1000 crores.
6. To mortgage / create charge on the assets of the company upto Rs. 1000 crores.
7. To appoint Mr. S. V. Rangan, Chartered Account as Statutory Auditor of the Company in place of M/s. Deloitte Haskins & Sells
Further the Company has informed that Mr. M. Raja Gola Reddy is appointed as Non-Executive Director of the Company in place of Mr. Kartik Vijay Punjabi, at the Board Meeting held on February 17, 2010.
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