Bombay Dyeing & Manufacturing Company Ltd has informed that the members at the 127th Annual General Meeting (AGM) of the Company held on July 25, 2007, inter alia, have accorded to the following: 1. Adoption of the Directors Report and the Audited Balance Sheet as at March 31, 2007 and Profit & Loss Account of the Company for the year ended on that date.
2. Declaration of dividend of Rs 5.00 per Equity Share of Rs 10 each, for the year ended March 31, 2007.
3. Re-appointment of Mr. Nusli N Wadia, Mr. Keshub Mahindra, Mr. R A Shah & Dr. H N Sethna, as Directors of the Company.
4. Re-appointment of Messrs. A F Ferguson & Co, as Auditors of the Company to hold office from the conclusion of this Meeting to the conclusion of the next Annual General Meeting of the Company, on remuneration, terms & conditions.
5. Authority to the Board for borrowing from time to time any sum or sums of money (exclusive of interest) not exceeding at any time the sum of Rs 1,500 crores on such terms and conditions as the Board may deem fit, notwithstanding that the moneys to be borrowed together with the moneys already borrowed by the Company (apart from temporary loans obtained or to be obtained from the Company's bankers in the ordinary course of business) 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.
6. Authority to the Board to create such charges, mortgages and hypothecations in addition to the existing charges, mortgages and hypothecations created by the Company, on such movable and immovable properties of the Company wheresoever situate, both present and future, on such terms, at such time, in such form and in such manner as the Board may deem fit, together with power to take over the management of the business and concern of the Company in certain events in favour of all or any of the following, namely.
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