KSE Ltd has informed BSE that the members at the Annual General Meeting (AGM) of the Company held on August 27, 2009, inter alia, have accorded to the following:
1. Adoption of the audited Balance Sheet as at March 31, 2009 and the Profit and Loss Account for the year ended on that date together with the Director?s Report and Auditor?s Report thereon.
2. Declaration of dividend for the year 2008-2009 at the rate of Re 5.00 per equity share, on the paid up capital of the Company.
3. Re-appointment of Mr. K P John, Mr. P D Anto & Dr. K C Vijayaraghavan as Directors of the Company.
4. Re-appointment of M/s Varma & Varma, Chartered Accountants as Auditors of the Company to hold office from the conclusion of this meeting until the conclusion of the next Annual General Meeting of the Company.
5. Reappointment of Sri. P K Varghese as Executive Director of the Company for a further term of three years with effect from November 01, 2009, on remuneration, terms & conditions.
6. Reappointment of Sri. A P George as Director and Legal Advisor of the Company for a period ofthree years from November 01, 2009, on remuneration, terms & conditions.
7. Authority to the Board for mortgaging and / or charging by the Board of Directors of the Company, whether pari passu with the existing charges or not, of all the immovable and movable properties of the Company, whereever situate, present and future, and the whole of the undertaking of the Company or such of them as may be agreed between the Board on the one side and Financial Institutions/Banks/Governments on the other side, to secure loans granted to the Company by them, not exceeding Rs 90 crores (Rupees Ninety crores only) in the aggregate from the Financial Institutions / Banks / Governmentstogether with interest, commitment charges, costs and other charges and expenses payable by the Company in terms of the loan agreement or agreements that may be entered into between the Company on the one
side and the Financial Institutions / Banks / Governments on the other side from time to time, subject to the condition that such loan or loans are used for capital projects and or working capital of the Company, subject to necessary provisions & approvals.
8. Authority to the Board for borrowing from time to time, at its discretion either from the Company?s bank or any other bank, financial institution or any other lending institutions or persons on such terms and conditions as may be
considered suitable by the Board of Directors of the Company, any sum or sums of money not exceeding in the aggregate at any one point of time Rs 90 crores (Rupees Ninety crores only) together with the money already borrowed by the Company (apart from temporary loans obtained from the Company?s bankers in the ordinary course of business), irrespective of the fact that such aggregate amount of borrowing outstanding at any one point of time may exceed for the time being of the paid up capital of the Company and its free reserves, that is, reserves not set apart for any specific purpose, subject to necessary provisions & approvals.
9. Approves the enhancement of remuneration of Sri. P K Varghese, Executive Director of the Company for the period from November 01, 2008 to October 31, 2009, subject to necessary provisions and approvals.
(As Per BSE Announcement Dated on 08/09/2009)|