Held on 15 May 2014
LG Balakrishnan & Bros announced that the Board of Directors of the Company at its meeting held on 15 May 2014, inter alia, has recommended for the consent and approval of the Members of the Company for the following businesses -a) Increase of Authorised Share Capital and consequent alteration of the Memorandum and Articles of Association of the Company.
b) Alteration of the Articles of Association(s)
c) Issue of Bonus Shares in the ratio of one equity share for every 1 equity shares held by way of Capitalisation of Reserves.
d) To approve the borrowing power to in excess of paid-up capital & free reserves pursuant to Section 180 (1) (c) of the Companies Act, 2013 in the place of the erstwhile approvals Under Section 293(1)(d) of the Companies Act, 1956.
e) To approve for creation of charge / mortgage etc. on Company's movable or immovable properties in terms of Section 180 (1)(a) of the Companies Act, 2013 in the place of the approval Under Section 293(1)(a) of the Companies Act, 1956.
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