Members of Madhucon Projects Ltd have approved an enabling resolution for issue of securities worth up to Rs 1,000 crore.
During the company’s 22nd annual general meeting held on Saturday, the members also approved a dividend at 10 per cent on paid-up equity shares of the company of 7,37,94,940 of Re 1 each aggregating Rs 7.37 crore.
Apart from approving the annual accounts for the year ended March 31, 2012, the company re-appointed P. Madhava Rao as independent director of the company.