Axon Infotech AGM approves 10% dividend

Axon Infotech Ltd has announced that the members at the 21st Annual General Meeting (AGM) of the Company held on September 11, 2006, inter alia, have approved the declaration of dividend of 10% on the paid up equity share capital of the Company.

Authority to Board for borrowing any sum or sums from any one or more of the Company’s Bankers and / or from anyone or more other persons, firms, bodies corporate or financial institutions whether by way of cash-credit, advance or Intercorporate deposits, loans or Bill discounting or otherwise and whether unsecured or secured by mortgage, charge, hypothecation or lien or pledge of the Company’s assets and properties whether movable or stock in trade (including Raw Materials, stores, spare parts and components in stock or in transit) and work in progress and all or any of the undertaking of the Company notwithstanding that the monies to be borrowed together with the monies already borrowed by company (apart from temporary loans obtained from the companies bankers in the ordinary course of business) will or may exceed the aggregate of the paid up capital of the company and its free reserves, that is to say, reserves not set apart for any specific purpose but, so however, that their total amount upto which the monies may be borrowed by the Board of Directors and outstanding any time shall not exceed the sum of Rs 25 Crores, exclusive of interest and the Directors are hereby further authorized to mortgaged charge, hypothecate lien and issue promissory notes, deposit receipts and other deeds and instruments or writings wherever necessary as they may think fit and containing such covenants as the Directors may deem fit, subject to necessary provisions & approvals.

Source : Equity Bulls

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