Financial Daily from THE HINDU group of publications
Thursday, Nov 11, 2004
Financial Daily from THE HINDU group of publications Thursday, Nov 11, 2004 |
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Corporate
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Diversification ITC seeks shareholder nod for change in objects clause of MoA Our Bureau
Kolkata Nov. 10 ITC Ltd is seeking approval of its shareholders for alteration of the objects clause of the company's memorandum of association. This is being sought to be done through a postal ballot, as prescribed under Company Law provisions. The company has already informed the Bombay Stock Exchange that it has sent to the members a postal ballot form, seeking approval for alteration of the Objects Clause of the MoA and also to enable commencement of businesses envisaged under the above at an appropriate time. The company's board, at its recent meeting, has appointed Mr R.L. Auddy, a senior solicitor and advocate, and Partner with Sandersons & Morgans, the law firm, as the scrutiniser for conducting the postal ballot voting process. It is learnt that the completed form should reach Mr Auddy on or before the close of working hours on December 15. The results of the Ballot will be declared by the Chairman of the company on December 22. Informed sources point out that the mandatory changes to the Objects Clause of MoA were being sought to be done in advance to enable the company to enter new businesses in future. Senior company officials were not available for comment.
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