sejal architectural glass limited - Securities and Exchange Board of ...

Authority for this Issue
OTHER REGULATORY AND STATUTORY DISCLOSURES
The Board of Directors have, pursuant a resolution passed at its meeting held on August 14, 2007,
authorised this Issue, subject to the approval of the shareholders of our Company under Section
81(1A) of the Companies Act, 1956.
Our shareholders have authorised this Issue by a special resolution adopted pursuant to Section 81
(1A) of the Companies Act, 1956, passed at the Annual General Meeting of our Company held on
September 29, 2007.
We have also obtained all necessary contractual approvals required for this Issue. For further details,
please refer section titled “Statutory Approvals” beginning on page [●] of this Draft Red Herring
Prospectus.
Prohibition by SEBI
Our Company, our Directors, our Promoters, or persons in control of our Promoter Group Companies,
companies promoted by our Promoters and companies or entities with which our Company’s Directors
are associated as directors / promoters / partners have not been prohibited from accessing or
operating in the capital markets or restrained from buying, selling or dealing in securities under any
order or direction passed by SEBI.
Prohibition by RBI
Our Company, our Promoters, their relatives, group concerns and associate companies have not been
detained as willful defaulters by the RBI or any other government authorities and there are no
violations of securities laws committed by them in the past or pending against them.
Eligibility for the Issue
We are eligible for the issue as per Clause 2.2.2 of the SEBI Guidelines as explained under.
Clause 2.2.2 of the SEBI Guidelines state as follows:
An unlisted company not complying with any of the conditions specified in Clause 2.2.1 may make an
initial public offering of equity shares or any other security which may be converted into or
exchanged with equity shares at a later date, only if it meets both the conditions in (a) and (b) given
below:
(a)(i) The issue is made through the book building process, with atleast 50% of the net offer to the
public being allotted to the Qualified Institutional Buyers (QIBs), failing which the
subscription monies shall be refunded.
OR
(a)(ii) The “project” has atleast 15% participation by Financial Institutions/Scheduled Commercial
Banks, of which atleast 10% comes from the appraiser(s). In addition to this, atleast 10% of the
issue size shall be allotted to QIBs, failing which full subscription monies shall be refunded.
(b)(i) The minimum post issue face value capital of the Company shall be Rs. 10 crores.
AND
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