Asahi Fibres Ltd has informed that the members of the Company, by way of Postal Ballot, have passed the following Resolutions, with requisite majority:
1. Ordinary Resolution U/s 94 of the Companies Act, 1956, for increase in authorized Share Capital of the Company from Rs 8,00,00,000/- (Eight Crores) to Rs 100,00,00,000/- (Hundred Crores).
2. Ordinary Resolution U/s 16 of the Companies Act, 1956, for alteration in Clause V of Memorandum of Association for increase in authorized Share Capital of the Company from Rs 8,00,00,000/- (Eight Crores) to Rs 100,00,00,000/- (Hundred Crores).
3. Special Resolution U/s 31 of the Companies Act, 1956, for alteration in existing Clause 3 of the Articles of Association for increase in authorized Share Capital of the Company from Rs 8,00,00,000/- (Eight Crores) to Rs 100,00,00,000/- (Hundred Crores).
4. Ordinary Resolution under Section 293(1)(a) of the Companies Act, 1956 for creation of Charge by way of Mortgage / Hypothecation on the Companys assets in favour of Banks / Institutions to secure Term Loan and other facilities not exceeding 1000 crores to be granted to the Company.
5. Ordinary Resolution pursuant to Section 293(1)(d) of the Companies Act, 1956 for borrowing monies (apart from Temporary Loan obtained or to be obtained from Companys Bankers in the ordinary course of Business) for a sum not exceeding Rs 1000 crores from Banks / Financial Institutions notwithstanding the amount of Borrowings may exceed paid up capital and free reserves (besides reserves set apart for any specific purposes) of the Company.
1. Ordinary Resolution U/s 94 of the Companies Act, 1956, for increase in authorized Share Capital of the Company from Rs 8,00,00,000/- (Eight Crores) to Rs 100,00,00,000/- (Hundred Crores).
2. Ordinary Resolution U/s 16 of the Companies Act, 1956, for alteration in Clause V of Memorandum of Association for increase in authorized Share Capital of the Company from Rs 8,00,00,000/- (Eight Crores) to Rs 100,00,00,000/- (Hundred Crores).
3. Special Resolution U/s 31 of the Companies Act, 1956, for alteration in existing Clause 3 of the Articles of Association for increase in authorized Share Capital of the Company from Rs 8,00,00,000/- (Eight Crores) to Rs 100,00,00,000/- (Hundred Crores).
4. Ordinary Resolution under Section 293(1)(a) of the Companies Act, 1956 for creation of Charge by way of Mortgage / Hypothecation on the Companys assets in favour of Banks / Institutions to secure Term Loan and other facilities not exceeding 1000 crores to be granted to the Company.
5. Ordinary Resolution pursuant to Section 293(1)(d) of the Companies Act, 1956 for borrowing monies (apart from Temporary Loan obtained or to be obtained from Companys Bankers in the ordinary course of Business) for a sum not exceeding Rs 1000 crores from Banks / Financial Institutions notwithstanding the amount of Borrowings may exceed paid up capital and free reserves (besides reserves set apart for any specific purposes) of the Company.
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