Rico Auto AGM approves 100% dividend

Rico Auto Industries Ltd has announced that the members at the 23rd Annual General Meeting (AGM) of the Company held on September 30, 2006, inter alia, have approved the dividend @ 10O per cent on Equity Share Capital has been declared for the financial year 2005-06.

Increase in Borrowing Limits from Rs 300 Crores to Rs 600 Crores (U/s 293(1)(d)).

Creation of charge over fixed assets for the increase in borrowing limits from Rs 300 Crores to Rs 600 Crores (U/s 293(1)(a)).

Raise fund upto US Dollar 60 Million or its equivalent Indian Rupees for any acquisition and / or any new projects.

Source : Equity Bulls

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