|Indiabulls Power Ltd has informed BSE that the Register of Members & Share Transfer Books of the Company will remain closed from September 26, 2011 to September 30, 2011 (both days inclusive) for the purpose of 4th Annual General Meeting (AGM) of the Company to be held on September 30, 2011.
Indiabulls Power Ltd has informed BSE that the Members of the Company have, in their 4th AFM held on September 30, 2011, accorded their approval to all the businesses set out in the AGM Notice dated September 03, 2011.
(As Per BSE Announcement Website dated on 30.09.2011)
Indiabulls Power Ltd has submitted to BSE a copy of the Minutes of proceedings of the 4th Annual General Meeting (AGM) of the Members of the Company held on September 30, 2011.
1. Adoption of the audited Profit and Loss Account of the Company for the financial year ended March 31, 2011 and the audited Balance Sheet as at that date together with the Reports of the Auditors and the Board of Directors thereon.
2. Re-appointment of Mr. Prem Prakash Mirdha as a Director of the Company.
3. Appointment of M/s. Deloitte Haskins & Sells, Chartered Accountants, as Auditors of the Company, to hold office as such from the conclusion of this Annual General Meeting until the conclusion of the next Annual General Meeting of the Company, on remuneration, terms & conditions.
4. Authority to the Board for the purposes of financing of the development, design, procurement, ownership, construction, commissioning, operation and maintenance of phase II of the 1350 MW (5 x 270 MW) coal based thermal power project using sub critical technology in Nandgaopet, Amravati District, Maharashtra including power evacuation arrangements, water arrangement and coal transportation / infrastructure arrangement in relation to the power Plant ("Project"), the Company do borrow under the Underwriting and Facility Agreement ("Facility Agreement"), the rupee term loan facility including any issuance of letters of credit, of an aggregate amount not exceeding Rs. 49,850,000,000 (Rupees Fourty Nine Billion Eight Hundred and Fifty Million) ("Rupee Facility") from IDBI Bank Ltd ("IDBI") and/or any other Lenders (together referred to as the "Lenders") and bank guarantee facility of an aggregate amount not exceeding Rs. 3,000,000,000 (Rupees Three Billion) ("BG Facility") from IDBI and/ or other Lenders, for which purpose it has entered into the Underwriting and Facility Agreement and Bank Guarantee Facility Agreement (collectively, the "Financing Documents"), with the Lenders, subject to necessary provisions & approvals.
5. Appointment of Mr. Saurabh K. Mittal, Director & Vice-Chairman of the Company, to hold an office or place of profit in its subsidiary Company, Indiabulles Realtech LTd (IRL or the Appointee Company), with effect from February 01, 2011, on remuneration, terms & conditions.
6. Authority to the Board to create, issue, offer and allot at any time or from time to time, directly or through a trust, to the Eligible
Employees (which expression shall, unless repugnant to the context, mean and include the permanent employees of the Company and its subsidiaries or that of the holding company, working in India or out of India, and the Directors of the Company and its subsidiaries and that of the holding company, whether whole-time or not but shall not include the promoter directors or directors holding by themselves or through the relatives or any body corporate, 10% or more of the outstanding equity share capital of the Company), as may be decided solely by the Board, stock options not exceeding 50,000,000 in number,
representing 50,000,000 equity shares of the Company, in one or more tranches and upon such terms and conditions as may be deemed appropriate by the Board, each option giving the right but not the obligation, to the holder, to purchase or subscribe for cash, 50,000,000 fully paid equity shares of Rs. 10/- each of the Company, in accordance with the terms of the a fresh stock option scheme - Indiabulls Power Ltd. Employees Stock Option Scheme-2011 (IPL ESOS- 2011 for the sake of brevity), subject to necessary provisions & approvals.
7. Authority to the Board to create, issue, offer and allot at any time or from time to time, either directly or through a trust, stock options, in one or more tranches, under and in accordance with the
terms of the IPL ESOS - 2011 to Eligible Employees who are permanent employees of the subsidiaries of the Company or that if its holding company, working in India or out of India, and the Directors of the subsidiaries of the Company or that of the holding company , whether whole-time or not, but not including the promoter directors or directors holding by themselves, or through the relatives or any body corporate, 10% or more of the outstanding equity of the Company, suject to necessary provisions & approvals.
8. Authority to the Board to identify specific Eligible Employees and grant options, during any one year, equal to, or exceeding, 1% of the issued capital (excluding outstanding warrants and conversions) of the Company at the time of grant, within the overall limit of 50,000,000 stock options, subject to necessary provisions & approvals.
9. Authority to the Board for amending the SPCL-IPSL Employee Stock Option Plan - 2008 and Indiabulls Power Limited. Employees Stock Option Scheme-2009 (the "Stock Option Schemes")/ earlier consented to / approved by the shareholders, so as to provide that the exercise price under respective Stock Option Schemes, shall be the market price of the equity shares of the Company,
being the latest available closing price, prior to the date of grant or the price as may be decided by the Board of Directors of the Company, subject to necessary provisions & approvals.
(As Per BSE Announcement Website Dated on 17/10/2011)|