Borosil Glass Works: shareholders approve dividend

Borosil Glass Works Ltd., informed the Bombay Stock Exchange Limited that at its 42nd Annual General Meeting held on 29 July 2005 shareholders agreed to declare a 10% dividend on equity shares of the …

Borosil Glass Works Ltd., informed the Bombay Stock Exchange Limited that at its 42nd Annual General Meeting held on 29 July 2005 shareholders agreed to declare a 10% dividend on equity shares of the company of INR 10 each for the financial year 2004-05. Mr. A.C. Dalal and Mr. S. Bagai were reappointed by shareholders as directors of the company, liable to retire by rotation. Mr. P.K. Kheruka (a relative of Mr. B.L. Kheruka, Chairman of Board) was appointed as Vice Chairman and Managing Director for three years commencing 1 August 2005. Shareholders also gave the board authority to secure a loan from Catholic Syrian Bank Ltd. against the company“s plants at Marol, Mumbai and Maraimalai Nagar, Tamil Nadu.