Titagarh Industries AGM approves name change to "Titagarh Steels Ltd"

Titagarh Industries Ltd has announced that the members at the 23rd Annual General Meeting (AGM) of the Company held on September 15, 2006, inter alia, have approved the change of name of the Company from "Titagarh Industries Ltd" to "Titagarh Steels Ltd" and accordingly the name "Titagarh Industries Ltd" wherever it occurs in the Memorandum & Articles of Association of the Company, subject to necessary provisions & approvals.

Authority to the Board to give advance and/or provide loans, from time to time, to the Company’s erstwhile wholly-owned subsidiaries viz. Titagarh Papers Ltd and Bhatpara Papers Ltd upto an amount not exceeding Rs 50,00,000/- and Rs 100,00,000/- respectively (apart from loans outstanding in their names as on March 31, 2006 and shares allotted to the Company pursuant to the Scheme of Compromise and Arrangement as sanctioned by the Hon'ble High Court at Calcutta) bearing interest at such rate, as may be decided by the Board of Directors from time to time, for meeting their day to day requirements, subject to necessary provisions & approvals.

Source : Equity Bulls

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