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Stock Report
Surya Roshni AGM approves 15% dividend
Posted On : 2006-10-04 03:02:18( TIMEZONE : IST )
Surya Roshni Ltd has announced that the members at the 33rd Annual General Meeting (AGM) of the Company held on September 28, 2006, inter alia, have approved the declaration of dividend of 15% on the paid up equity share capital of the Company for the year ended March 31, 2006.
Authority to the Board to mortgaging and/or charging by the Company of all the immovable and movable properties of the Company wheresoever situated, present and future and the whole of the undertaking of the Company in favour of Industrial Development Bank of India (IDBI Ltd) acting for itself and as agent of Banks/Financial Institutions to secure:
a. Rupee Term Loan of Rs 2000 lac lent and advanced by IDBI Ltd to the Company.
b. Corporate Loan of Rs 1000 lac lent and advanced by State Bank of India to the Company.
c. Corporate Loan of Rs 1000 lac lent and advanced by State Bank of Patiala to the Company.
d. Corporate Loan of Rs 1000 lac lent and advanced by State Bank of India to the Company.
e. Additional Bill discounting limit of Rs 200 lacs lent and advanced/agreed to be advanced by Small Industries Development Bank of India (SIDBI) to the Company.
f. The Working Capital Limits of Rs 18,150 lac, secured and Second Charge basis, lent and advance/agreed to be lent and advanced by State Bank of India, Punjab National Bank and State Bank of Patiala to the Company. The details are as under:
Consortium Banks
1. State Bank of India - Rs 9250 lac
2. Punjab National Bank - Rs 7800 lac
3. State Bank of Patiala - Rs 1100 lac
together with interest thereon at the respective agreed rates, interest tax, compound interest, additional interest, liquidated damages, commitment charges, premia on prepayment or on redemption, costs, charges, expenses and other monies payable by the Company to IDBI Ltd, SIDBI, State Bank of India, State Bank of Patiala and Punjab National Bank under Loan Agreements entered into/to be entered into by the Company in respect of the aforesaid loans, subject to necessary provisions & approvals.
