Asahi India Glass members approve to borrow funds

Asahi India Glass Ltd members have declared dividend at 150 per cent on equity shares of Rupee one each and at 0.01 per cent on non-cumulative redeemable preference shares of Rs 100 each, for the financial year 2004-05.

The members have also authorized the board to borrow any amount up to a limit not exceeding Rs 1,250 crore notwithstanding the amount already borrowed by the company may exceed the aggregate of the paid up capital of the company and its free reserves.

The members have also approved to increase the authorized share capital of the company to Rs 65 crore by creation of 35 crore further equity shares of Rupee one each.

The members have given their acceptance for the proposed issue of bonus shares in the proportion of one equity share for every equity share held by the members.

The members have re-appointed Surinder Kapur and Arvind Singh as the directors and Arvind Singh as the whole time director of the company for a period of 5 years.

The members have appointed Jagdish Sapra & Co., chartered accountants as the statutory auditors of the company.

The members have further appointed Jagdish Khattar as the director of the company liable to retire by rotation and designated K Miyazawa, whole time director as the technical director of the company with effect from April 01, 2004.

600450 Asahi India Glass members approve to borrow funds

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