Approvals were galore at the Annual General Meeting (AGM) of the shareholders of Spentex Industries Ltd, which manufactures high quality combed cotton yarn.
The AGM has given go-ahead to the textile firm for making investment and providing guarantee of Rs750 crore, in addition to approving the increase in its borrowing power up to Rs1,500 crore.
The shareholders also okayed the appointment of Prem Malik, R K Thapliyal, Deepak Diwan, Pankaj Sharma, Shyamal Ghosh and Vivek Chhachhi as directors of company.
Spentex Industries Ltd also got the nod to continue with PriceWaterhouse as auditors till the conclusion of next AGM and authorized the board to finalise their remuneration.
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