Bombay Polymers to enter into Information Technology Business

Bombay Polymers Ltd has announced that the Board of Directors of the Company at its meeting held on October 16, 2006, has approved alteration of object clause of Memorandum of Association of the Company by adding the objects relating to information Technology services in the main objects and the commencement of new business by the Company under Section 149(2A) of the Companies Act, 1956. The approval of members of the company will be sought by way of postal ballot. The Company has appointed Mr. Nilesh Shah Practicing Company Secretary, as the scrutinizer for conducting the Postal Ballot process in a fair & transparent manner. The Postal Ballot form duly completed should reach the scrutinizer on or before November 23, 2006. The Scrutinizer will submit his report to the Chairman of the Board of Directors after completion of scrutiny and results of Postal Ballot will be announced on November 25, 2006.

The Company has appointed an executive officer to head the Information Technology division and explore the possibility of alliances with other Companies in Information technology sector.

Source : Equity Bulls

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