Sirpur Paper - Notice Of Postal Ballot

Sirpur Paper Mills Ltd has informed that the members of the Company will consider to approve the Ordinary resolution by way of Postal Ballot, to mortgage and /or charge, in addition to the mortgage / charges created or to be created by the Company, on all or any of the moveable and / or immoveable properties of the Company, both present and future and / or the whole or any part of the undertaking(s) of the Company together with the power to takeover the management of the business and concern of the Company in certain events of default, in favour of the Lender(s), Agent(s) and Trustee(s) for securing the borrowings availed / to be availed by the Company, by way of loan(s) (in foreign currency and / or rupee currency) upto Rs 400 crore, together with interest at the respective agreed rates, additional interest, liquidated damages, commitment charges, premia on prepayment, all other costs, charges and expenses, including any increase as a result of devaluation / revaluation / fluctuation in the rates of exchange and all other monies payable by the Company in terms of the Loan agreement(s) or any other document, entered into / to be entered into between the Company and the Lender(s) and Trustee(s), subject to necessary provisions and approvals.The Company has appointed Shri. A J Sharma, a Practicing Company Secretary as Scrutinizer for conducting the Postal Ballot process in a fair and transparent manner.The Postal Ballot form duly completed should reach the Scrutinizer on or before January 25, 2007. The Scrutinizer will submit his report addressed to the Board of Directors of the Company to one of its Directors after completion of the scrutiny in a fair and transparent manner and the results of the Postal Ballot will be announced by the Chairman of the meeting at the Extra-ordinary General Meeting of the Company to be held on January 27, 2007.