Century Textiles & Industries Ltd has informed that the members at the 110th Annual General Meeting (AGM) of the Company held on July 24, 2007, have transacted the following: 1. Adoption of the Directors' Report, Audited Balance Sheet and Profit and Loss Account for the year ended March, 31, 2007.
2. Confirmed interim dividend made by Board of Directors @ Rs 3.75 per equity share for the year 2006-07 on 9,30,45,680 equity shares of Rs 10/- each in the capital of the Company, as final dividend for the year ended March 31, 2007 and approved the dividend distribution tax including surcharge & education cess paid by the Company on dividend.
3. Re-elected Shri. Pradip Kumar Daga & Shri. Arvind C Dalal as Directors of the Company.
4. Re-appointment of Messrs. Dalal & Shah, Chartered Accountants, the retiring Auditors as Auditors of the Company to hold office from the conclusion of this meeting until the conclusion of next Annual General Meeting of the Company on remuneration, terms & Conditions.
5. Reappointment of Shri. B L Jain as Director in the whole time employment of the Company with effect from April 01, 2007 for a further period of three years on remuneration, terms & conditions.
6. Authority to the Board to borrow from time to time any sum or sums of monies in any manner as may be required for the purpose of businesses of the Company, with or without security and upon such terms and conditions as they may think fit, notwithstanding that the monies to be borrowed together with monies already borrowed by the Company may 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, provided that the total amount so borrowed by the Board of Directors and outstanding at any time shall not exceed the sum of Rs 5000 crores, subject to necessary approval & provisions.
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