HLL shareholders approve transfer of Sewri undertaking
10-06-2004 : The Shareholders of Hindustan Lever Ltd (HLL) have approved the resolutions to transfer it's Sewri undertaking, Mumbai to one of its subsidiaries and functionalised biopolymers business including manufacturing facilities at Pondicherry to a third party or a subsidiary.
The Shareholders of Hindustan Lever Ltd (HLL) have approved the resolutions to transfer it's Sewri undertaking, Mumbai to one of its subsidiaries and functionalised biopolymers business including manufacturing facilities at Pondicherry to a third party or a subsidiary. The resolutions were approved by an overwhelming majority of over 90% votes.
In case of transfer of Sewri factory there were 125,72,75,595 votes in favour of the resolution and 7,85,79,774 against. For transfer of functionalised biopolymers business, including manufacturing facilities at Pondicherry there were 125,54,81,796 votes in favour of the resolution and 7,83,39,747 against. The polling was done through postal ballot and the results were announced to the shareholders today.
HLL had sent a notice dated November 11, 2004 under Section 192 A read with Sec 293 (1) (a) of the Companies Act, 1956 to all the shareholders for seeking their approval by means of postal ballot. The Board had appointed Mr. S. R.Tata, a Partner of M/s A.F. Ferguson & Co., Chartered Accountants, Mumbai as scrutiniser for conducting the postal ballot. Mr. Tata submitted his report to the HLL Chairman on December 29, 2004.
India:
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Mumbai - 400 099.
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