Zylog Systems Ltd has informed BSE that :
"It has now been brought to the notice of the Board of Directors that in respect of the accounts of the company as approved at its meeting on 29-May-2013 for the year ended 31-Mar-2013, there are certain omissions in the accounts, due to oversight of the dealing staff and officers of the company.
The company and its Board have all along, since the date of incorporation, has been maintaining high governance standards, but this inadvertent lapse has now necessitated that the Board consider restating the accounts and figures filed with the Stock exchanges. Also the company has obtained extension of time for conducting the AGM and hence no action has been taken in this regard as to circulation of Annual reports, Issue of notice etc. The Company has already informed the Registrar of Companies about the postponement of the AGM by letter dated 14-Aug-2013.
Hence, the Audit Committee, responsible for approval of accounts, have requested our statutory auditors to do a re-audit of our books and also recertify the financials submitted to you on 29-May-2013. The AGM will now be held on 24-Dec-2013 to consider the revised audited accounts."
(As per BSE Announcement Dated on 20.11.2013)|
Zylog Systems Ltd has informed BSE that the 17th Annual General Meeting (AGM) of the Company was held on September 25, 2012. (For more details kindly refer Corporate Announcements on www.bseindia.com).
(As per BSE Announcement Dated on 25.09.2012)n|
Zylog Systems Ltd has informed BSE that the members at the 16th Annual General Meeting (AGM) of the Company held on September 29, 2011, inter alia, have accorded to the following:
1. Received, considered and adopted the Audited Profit and Loss Account for the year ended March 31, 2011 and the Balance Sheet as at that date together with the reports of the Board of Directors` and Auditors` thereon.
2. Declared final dividend of Rs. 8/- per equity share of face value of Rs.10/- for the year 2010-11.
3. Approved the re-appointment of Mr. M. Gajhanathan, Director retiring by rotation as a Director of the Company.
4. Re-appointed the retiring auditors M/s. Brahmayya & Co, Chartered Accountants, Chennai as Auditors of the Company to hold office from the conclusion of this meeting to the conclusion of the next annual general meeting and authorized the Board of Directors to fix their remuneration.
5. Re-appointed the retiring branch auditors M/s. Ketan Pathak, CPA, USA as USA Branch Auditors and authorised the Board of Directors to fix their remuneration.
6. Approved the appointment of Mr. V. K. Ramani as the Director of the Company liable to retire by rotation.
(As Per BSE Announcement Website dated on 30.09.2011)|
Zylog Systems Ltd has informed BSE that the members at the 15th Annual General Meeting (AGM) of the Company held on September 30, 2010, inter alia, have adopted the following:
1. Adoption of Balance Sheet as at March 31, 2010 and the Profit & Loss Account for the year ended as on that date and the Reports of Directors and Auditors thereon.
2. Payment of Dividend @ Rs.6/- per Share for the Financial Year ended March 31, 2010 on the face value of Rs 10/- each.
3. Re-appointment of Mr. M. Gajhanathan, Mr. S. Rajagopal, Mr. P. Srikanth and Mr. A. P. Vasantha Kumar as Directors of the Company.
4. Re-appointment of M/s Brahmayya & Co., Chartered Accountants, Chennai as Statutory Auditors of the Company, to hold office from the conclusion of this Annual General Meeting until the conclusion of next Annual General Meeting.
5. Increase in Authorised Share Capital of the Company from Rs. 20 Crore to Rs. 40 Crore.
6. Alteration in the Articles of Association of the Company:
a. Amendment of Clauses related to Share Capital and Variation rights of the Company.
b. Amendment of Clause related to Capitalisation of Profits of the Company.
7. Empowering the Board to consider various options for raising long term resources to fund the Company`s growth plans to raise funds up to Rs. 400 Crore by further issue of securities / instruments in domestic/international markets including equity shares/warrants with Convertible or Non-Convertible Debentures under Qualified Institutions Placement (QIP) or Foreign Currency Convertible Bonds (FCCBs) or American Depository Receipts (ADRs) or Global Depository Receipts (GDRs). The said resolution was amended by the shareholders by enhancing the limit from 250 Crore to Rs. 400 crores at the Annual General Meeting with requisite Amendment Motion and was passed unanimously.
(As Per BSE Announcement Website dated on 01.10.2010)|
Zylog Systems Ltd has informed BSE that the members at the 14th Annual General Meeting (AGM) of the Company held on September 23, 2009, inter alia, have accorded to the following:
1. Adoption of Audited Balance Sheet of the Company as at the March 31, 2009, the Profit and Loss Account for the year ended on that date, together with the Schedules and Notes attached thereto, along with the Reports thereon of the Directors and Auditors.
2. Declaration of a Dividend @ 30% i.e. of Rs. 3/- per Share on the equity shares of Rs. 10 each.
3. Appointment of Mr. S. Rajagopal, Mr. A. V. Rajawade & Mr. V. Chandramouly as Directors of the Company.
4. Appointment of and Payment of Remuneration to M/s. Brahmayya & Co., Chartered Accountants, Chennai as Statutory Auditors of the Company.
5. Authorisation of the Board of Directors of the Company to borrow from time to time, any sum of money together with monies already borrowed (apart from temporary loan obtained from Banks / Financial Institutions others) up to a maximum limit of Rs. 1,000 crores.
6. Authorisation of the Board of Directors of the Company for creating charge or mortgage On the assets of the Company, up to a maximum limit of Rs. 1,000 Crores against securities inter-alia of mortgage of the entire undertaking or part of the undertaking, of any type of mortgage or charge as it may consider fit and proper.
(As Per BSE Announcement Website dated on 23.09.2009)|