Jacqart Chemical Industries Ltd has informed BSE that the members of the Company will consider to approve the Ordinary Resolution by way of Postal Ballot to sell, lease or otherwise dispose off the whole, or substantially the whole of the undertaking of the Company, or where the Company owns more than one undertaking, of the whole, or substantially the whole, of any such undertaking or to create mortgage(s), charge(s), hypothecation and / or floating charge(s) on all or any of the immovable and / or movable assets / properties of the Company, present and future, of every nature and kind whatsoever the undertaking of the Company in certain events, to secure Term Loans / Working Capital facilities / External Commercial Borrowings / Debentures etc. the aggregate of which shall not, at any time, exceed the limit of Rs 100,00,00,000 from Financial institutions / Banks and other agencies / parties with interest, additional interest, liquidated damages, commitment charges, premia on prepayment or on redemption, costs, charges already created or to be created in future by the Company in such manner and in such form as may be deemed prudent, desirable and necessary by the Board of Directors, subject to necessary provision & approval.
The Company has appointed Mr. Narayan Rathi, partner of M/s Rathi & Associates, Company Secretaries as the Scrutinizer for conducting the postal ballot voting process in a fair and transparent manner.
The Postal Ballot form duly completed should reach the scrutinizer on or before the close of working hours on September 25, 2006. The scrutinizer will submit his report to the Chairman of the Company after completion of the scrutiny and the results of the postal ballot will be announced by the Chairman on September 30, 2006.