Kanani Industries Limited has informed that the Board of Directors of the Company at its meeting held on June 25, 2009, inter alia, has decided the following:
1. To convene the 26th Annual General Meeting of the Members of the Company on July 24, 2009.
2. To issue bonus equity shares in the ratio 1:2 i.e. (two new Equity Shares for every One Equity Share held) to the members of the Company whose names appear in the Registrar of Members as on record date.
3. To conduct Postal Ballot under Section 192(A) of the Companies Act, 1956 for making investment in other body corporate exceeding the paid up equity share capital and free-reserves of the Company under Section 372A of the Companies Act, 1956 and also under Section 293(1) (d) for borrowings that will exceed the aggregate of the Paid-up capital of the Company and its free reserves that is to say reserves not set apart for any specific purpose.
1. To convene the 26th Annual General Meeting of the Members of the Company on July 24, 2009.
2. To issue bonus equity shares in the ratio 1:2 i.e. (two new Equity Shares for every One Equity Share held) to the members of the Company whose names appear in the Registrar of Members as on record date.
3. To conduct Postal Ballot under Section 192(A) of the Companies Act, 1956 for making investment in other body corporate exceeding the paid up equity share capital and free-reserves of the Company under Section 372A of the Companies Act, 1956 and also under Section 293(1) (d) for borrowings that will exceed the aggregate of the Paid-up capital of the Company and its free reserves that is to say reserves not set apart for any specific purpose.
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