Marg Constructions Ltd has announced that an 11th Annual General Meeting (AGM) of the members of the Company will be held on September 30, 2006, inter alia, to get approval for the following:
1. To borrow monies for the business of the Company, whether unsecured or secured, in Indian or foreign currency or by way of debentures / bonds or any other security(ies) from time to time from any bank(s) / financial institution(s) or any other institution(s), firms, body corporate(s) or other person(s) in India or abroad, apart from temporary loans obtained / to be obtained from the companies / banker(s) in the ordinary course of business provided that the sum(s) so borrowed under this resolution and remaining outstanding at any time shall not exceed in aggregate of Rs 1,000 Crores in excess of and in addition to the paid up share capital and free reserves of the company for the time being.
2. To invest in Securities of Signa Infrastructure India Ltd to acquire by way of subscription or otherwise for an amount not exceeding Rs 400 Crores notwithstanding the fact that the proposed Investments together with the Investments, Loan, Guarantee or Security etc., already made by the Company exceeds 60% of the paid up share capital and free reserve of the Company.
3. To acquire by way of subscription, purchase or otherwise the securities of the Companies for an amount not exceeding Rs 250 Crores in Information Technology and Information Technology Enabled Services and allied Sectors notwithstanding the fact that the proposed Investments together with the Investments, Loan, Guarantee or Security, etc., already made by the Company exceeds 60% of the paid up share capital and free reserves of the Company.
4. To acquire by way of subscription, purchase or otherwise the securities for an amount not exceeding Rs 250 Crores in Constructions and Infrastructure Sectors and allied Sectors notwithstanding the fact that the proposed Investments together with the Investments, Loan, Guarantee or Security, etc., made by the Company exceeds 60% of the paid up share capital and free reserves of the Company.
5. To alter the existing clause 8 (b) of the Articles of Association of the Company relating to Further Issue by substituting the new Article.
6. To issue, offer for subscription and allot, in one or more tranches, new equity shares not exceeding 5% of the outstanding paid up capital for the benefit of such person(s) as may be in employment of the Company and shall include Directors other than promoter Directors, whether in India or abroad, of the Company whether shareholders of the Company or not, at such price and other terms as per the Marg Constructions Ltd Employees Stock Option Plan 2006 ("ESOP" or "Scheme" or "Plan") created by the Company and the Securities and Exchange Board of India (Employees Stock Option Scheme and Share Purchase Scheme) Guidelines 1999 and on such terms and conditions including the issue price(s) and premium(s) as may be determined by the Board in accordance with the applicable Guidelines issued by SEBI from time to time.
7. To extend the benefits of the Employee Stock Option Plan contained in Resolution No 10 to the eligible employees of the Subsidiary Company(ies) on such terms and conditions as may be decided by the Board of Directors of the Company or the Compensation Committee(s), constituted by the Board to exercise its powers including the powers conferred by this resolution.