Nagarjuna Agrichem AGM approves 20% dividend

Nagarjuna Agrichem Ltd has announced that the members at the Annual General Meeting (AGM) of the Company held on September 22, 2006, inter alia, have unanimously approved the dividend of 20% on fully paid Equity Shares of the Company for the financial year ended March 31, 2006.

Approved a resolution under Section 293 (1) (a) of the Companies Act, 1956 in favour of ICICI Bank Ltd to secure the External Commercial Borrowing Facility of USD 10 Million.

Approved a resolution under Section 293 (1) (a) of the Companies Act, 1956 in favour of State Bank of India, HDFC Bank Ltd, Punjab National Bank and ICICI Bank Ltd of the terms loans and working capital facilities availed by the Company.

Approved a resolution under Section 293 (1) (d) of the Companies Act, 1956 authorizing the Board of Directors to borrow money in excess of Paid up capital and free reserves of the Company upto a limit of Rs 250 crores.

Source : Equity Bulls

Keywords