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At Magma, we recognise that there are thousands of small investors who invest their hard-earned savings to fund the dreams of their families. Magma is focused on unleashing value for the benefit of its shareowners through every strategy and initiative.
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Postal Ballot


Declaration of results of voting Conducted by postal ballot in terms of the notice dated the 4th february, 2008

Pursuant to Section 192A of the Companies Act, 1956 read with the Companies (Passing of Resolution by Postal Ballot) Rules 2001, approval of the Members of the Company was sought by means of Postal ballot vide Notice dated the 4th February, 2008, for the purpose of Increase in the Borrowing Limit under Section 293(1)(d) of the Companies Act, 1956.

The Scrutinizer received 129 Postal Ballots out of which 119 were valid and 10 were invalid. Based on the Scrutinizer’s Report dated 14th March, 2008, the result of the valid Postal Ballots was declared on Saturday, the 14th March, 2008 at 2:00 P. M. at the Registered Office of the Company which is as follows :

Ordinary Resolution for Increase in the Borrowing Limit under Section 293(1)(d) of the Companies Act, 1956

  Number of Members Number of Votes Percentage of Votes
Total Number of valid Postal Ballots received 119 13112150 100.00
Postal Ballots – In favour of the Resolution 107 13111996 99.99
Postal Ballots - Against the Resolution 12 154 00.01

Ordinary Resolution as set out in the Notice dated the 4th February, 2008 was accordingly carried out by requisite majority.

By Order of the Board
Girish Bhatia
Company Secretary

Place: Kolkata
Date: 15th March 2008




 
    
 

 
    

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