Raj Agro Mills Ltd: Outcome of Board Meeting

Raj Agro Mills Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 18, 2011, has subject to the approval, sanction(s) of the appropriate authorities and consent of the members of the company, has approved the disposal by way of sale, transfer or otherwise the whole or substantially the whole of undertaking (s) in one or more tranches.

Besides to obtained the consent of members of the company as envisaged by 293(1)(a) of the Companies Act in terms of section 192A of the Companies Act, 1956 read with the Companies (Passing of the Resolution by Postal Ballot) Rules, 2001, the Board has appointed Mr. S. P. Sharma, Senior Advocate of Punjab & Haryana High Court as the Scrutinizer to conduct the Postal Ballot Voting Process in a fair and transparent manner.

Further, the dispatch by way of registered post of Postal Ballot Form together with the Notice of Postal Ballot pursuant to Section 192A (2) of the Companies Act, 1956 dated April 18, 2011 along with Draft Ordinary Resolution & Explanatory Statement pursuant to Section 173(2) of the Act with self-addressed and pre-stamped business reply envelope has been completed on April 26, 2011 for the purpose of seeking the Members assent or dissent to the proposed resolution and the intimation to this effect for the information of the members has also been released for publication in the newspapers.