Limit for Investment

EXTRACTS FROM THE PROCEEDINGS OF THE THIRTY FIRST ANNUAL GENERAL MEETING OF THE SHAREHOLDERS OF BALRAMPUR CHINI MILLS LIMITED HELD ON THURSDAY, THE 11 TH JANUARY, 2007 AT "KALA MANDIR',48, SHAKESPEARE SARANI, KOLKATA-700017.

"Resolved that pursuant to the applicable provisions of the Foreign Exchange Management Act, 1999 (FEMA), the Companies Act, 1956 and all other applicable rules, regulations guidelines and laws (including any amendment thereto re-enactment thereof for the time being in force) and subject to approval(s) and / or permission(s) and / or sanction(s) of the Central Government, Reserve Bank of India and other regulatory bodies, if required, and subject to such conditions as may be prescribed by any of the concerned authorities while granting such approval(s), permission(s) and sanction(s), which the Board of Directors of the Company (hereinafter referred to as "the Board") is hereby authorised to accept and in supersession of the earlier Special Resolution passed at the Extra-ordinary General Meeting of the Company held on 4 th March, 2005 in that regard, the consent of the Company be and is hereby accorded for investment by Foreign Institutional Investors including their sub-accounts (hereinafter referred to as "the FIIS"), in the equity share capital of the Company, either by direct investment or by purchase or acquisition from market under Portfolio Investment Scheme under FEMA, subject to the condition that the total holding of all FIIs put together shall not exceed 60% of the paid up equity share capital of the Company."

"Resolved further that the Board be and is hereby authorised to do all such acts, deeds, matters and things and execute all documents or writings as may be necessary, proper or expedient for the purpose of giving effect to this resolution and for matters connected therewith or incidental thereto".

CERTIFIED TRUE COPY
For Balrampur Chini Mills Ltd.
S.K. Agrawala       
COMPANY SECRETARY

 

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