Mipco Seamless Rings Gujarat Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on February 03, 2011, inter alia, to consider the following matters:

1. To note the completion of Open Offer process given by Mr. Sachendra Tummala for Substantial acquisition of shares of the Company.

2. To approve transfer of 13,23,968 (36.93%) Equity shares as per Share Purchase Agreement, and 2,00,000 Preference shares in favour of Mr. Sachedra Tummala subsequent to the completion of the Takeover.

3. To consider appointment of Mr. Ravi Kumar Chennupati and Mr. Lakshmi Prasad Yerneni as Directors of the Company consequent to Change of Management.

4. To consider resignation of Mr. Jal R Patel, Mr. T M Patel, Mr. S V Subramania Iyer from Board of Directors of the company.

5. To consider resignation of Mr. S M Patel from the position of Managing Director. However, he is to continue as Director.

6. To consider Appointment of Sachendra Tummala as Non Executive Chairman and change Authorised signatory for statutory compliances and representations to various government departments.

7. To consider shifting of registered Office within the city of Bharuch.

8. To consider setting up of Business unit in Hyderabad and opening of Bank account in Hyderabad.

9. To consider re-constitution of Sub committees of the Board consequent to change of the Board of the Company.

10. To approve appointment of Compliance officer as per Listing Agreement.

11. To approve authorization for making petition before Company Law Board u/s 17 of the Companies Act, 1956 for shifting of registered office from Gujarat to Karnataka.

Source : BSE - www.bseindia.com

(This article was published on February 1, 2011)
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