KDCL to change its name to Kiri Industries Limited

27 Jan '11

2 min read

Kiri Dyes and Chemicals Ltd (KDCL) has informed that the Board of Directors of the Company at its meeting held on January 17, 2011, has approved the following:

1. To Change Name of the Company from Kiri Dyes and Chemicals Limited to Kiri Industries Limited subject to approval of members, Central Government and such other authorities as may be necessary.

2. To increase the borrowing power of the Company under from Rs. 700.00 Crores to Rs. 1000.00 Crores subject to approval of members of the Company.

3. To create the charge! mortgage of the properties of the Company subject to approval of members of the Company.

4. To make investment/ give guarantee/ provide securities upto Rs. 750.00 Crores subject to approval of members, financial institution or such other authorities as may be necessary.

5. Passing of following Resolutions by way of Postal Ballot for obtaining approval of members of the Company:

(a) Increase in borrowing power of the Company from Rs. 700.00 Crores to Rs. 1000.00 Crores under section 293(1)(d) of the Companies Act, 1956.

(b) To create mortgage / charge under section 293(1)(a) of the Companies Act, 1956.

(c) To make investment/ give guarantee/ provide securities upto Rs. 750.00 Crores under section 372A of the Companies Act, 1956.

(d) To Change of name of the Company from Kiri Dyes and Chemicals Limited to Kiri Industries Limited under section 21 read with section 23 of the Companies Act, 1956.

Further the Company has informed that, the Board of Directors of the Company has decided not to sub-divide the Equity Shares of the Company.

Kiri Dyes and Chemicals Ltd (KDCL)

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