POLARIND

Polar Industries Ltd has informed the Exchange vide notes to Accounts in the Unaudited Financial Results for the Quarter ended June 30, 2009 (taken on record by the Board of Directors of the Company at its meeting held on July 29, 2009) that "Auditors have qualified their report on the audited accounts for the year ended 31.03.2009 (a) for preparation of accounts on going concern basis as the networth has become negative. (b) regarding remuneration paid in earlier years to an ex director for which Central Government approval is awaited. (c) regarding written back of dues to banks and financia

Polar Industries Ltd has informed the Exchange vide notes to Accounts in the Audited Financial Results for the Financial year ended March 31,2009 (taken on record by the Board of Directors of the Company at its meeting held on June 27, 2009) that "Auditors have qualified their report on the audited accounts for the year ended 31.03.2009 (a) for preparation of accounts on going concern basis as the networth has become negative. (b) regarding remuneration paid in earlier years to an ex director for which Central Government approval is awaited. (c) regarding written back of dues to banks and fin

Polar Industries Ltd has informed the Exchange that the Board of Directors of the Company at their meeting held on June 26, 2009 have inter alia considered the following: 1) Approved convening of the Annual General Meeting of the members of the Company on August 21, 2009 for the purpose of approval of Shareholders for the re-appointment of Mr. Anil Agarwal as Chairman & Managing Director of the Company for a period of three years w.e.f. April 01, 2009.

Polar Industries Ltd has informed the Exchange that "Mr. Arun Thaman, the CEO of the Company has by way of his letter dated March 1, 2009 resigned from the post of CEO and the service of the Company. The same has been accepted by the Company on April 28, 2009 and he will be released from the service of the Company from the closing hours of April 30, 2009".

Polar Industries Ltd has informed the Exchange that the Company intends to submit audited financial results for the entire financial year ended March 31, 2009, instead of unaudited financial results for the quarter ended March 31, 2009.

Polar Industries Ltd has informed the Exchange that the auditors have conducted the limited review for the un-audited financial results for the quarter ended December 31,2008. A copy of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).<a href=/content/corporate/POLARIND_LR_160320093.ZIP target=NEW> For more details click here.</a>

Polar Industries Ltd has informed the Exchange that the Company has by way of resolution passed by circulation, the approval of which was received from majority of the Directors of the Company, resolved to appoint M/s. Polaron Marketing Limited(PML) as non-exclusive distributor of Company's products with immediate effect for territories in the Republic of India and Overseas.

Polar Industries Ltd has informed the Exchange vide notes to Accounts in the Unaudited Financial Results for the quarter ended December 31,2008 (taken on record by the Board of Directors of the Company at its meeting held on January 30, 2009) that "Auditors have qualified their report on the audited accounts for the year ended 31.03.2008 (a) for preparation of accounts on going concern basis as the networth has become negative. (b) regarding remuneration paid in earlier years to an ex director for which Central Government approval is awaited. (c) regarding written back of dues to banks and fi

Polar Industries Ltd has informed the Exchange that the Board of Directors of the Company at its meeting held on January 30, 2009 have interalia considered the following : It is proposed that a distribution of the company's product be done through an independent marketing company.

Polar Industries Ltd has informed the Exchange that the Company has by way of Board Resolution Passed on November 05, 2008 appointed Mr. Arun Thaman, B.COM, PGDMM, PGDMtM, with 20 years of Industrial Experience, as Chief Executive Officer (CEO) of the Company.

Polar Industries Ltd has informed the Exchange that the auditor's have conducted the limited review of the unaudited financial results for the quarter ended September 30, 2008 and found the same to be in order subject to certain observations. The auditor's observations are: "We further referred our qualifications in the audited accounts for the year ended 31 Mar'08 as follows: (a) Regarding written back of dues to banks & financial institutions on OTS / Restructuring, which is subject to compliance of terms & conditions and non provision of interest on remaining loan as referred in note no. B-

Polar Industries Ltd has informed the Exchange that due to the sudden demise of Mr. K. P. Bhattacharya, Director (operations) of Polar Industries Limited, the composition of Board of Director of the Company stands changed. The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).<a href=/content/corporate/Polar_Update_07112008.zip target=NEW> For more details click here.</a>

Polar Industries Ltd has informed the Exchange that the Board of Directors of the Company at its meeting held on October 27, 2008 have inter-alia considered the following: (1) Engaging Ernst & Young Pvt. Ltd. for mobilizing funds through strategic investments.

Polar Industries Ltd has informed the Exchange that "There has been a major fire on 09.10.2008 in the Custom Bonded Warehouse at Chennai where the imported goods of the Company were stored before payment of duty. Approximately one lakh fans have been destroyed by the fire. The estimated loss to the Company is in the magnitude of Rs.11 Crores, including profit margin. We have been informed by our CHA that the Insurance cover was taken by the Logistic Company (License holder of Custom Bonded Warehouse), from Cholamandalam MS General Isurance Company Limited, Chennai. The company has already subm

Polar Industries Ltd has informed the Exchange regarding the outcome of Annual General Meeting held on August 12, 2008. The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).<a href=/content/corporate/Polar_outcomeofagm_13082008.zip target=NEW> For more details click here.</a>

Polar Industries Ltd had informed the Exchange that the Company had appointed M/s Asia Pacific Brands India Limited, Mumbai (APBIL) as Distributor of POLAR Products on non-exclusive basis. The Company has now informed the Exchange that "The Company has terminated the said distributionship agreement related to sale of POLAR products with APBIL w.e.f. 21.07.08".

Polar Industries Ltd has informed the Exchange that it has been decided to keep the Register of Members closed from 31.07.2008 to 05.08.2008 (both days inclusive) for the purpose of Annual General Meeting to be held on August 12, 2008.

Polar Industries Ltd has informed the Exchange vide notes to Accounts in the Audited Financial Results for the quarter and 12 months ended March 31,2008 (taken on record by the Board of Directors of the Company at its meeting held on June 28, 2008) that "Auditors have qualified their report on the audited accounts for the year ended 31.03.2008 (a) for preparation of accounts on going concern basis as the networth has become negative. (b) regarding remuneration paid in earlier years to an ex director for which Central Government approval is awaited. (c) regarding written back of dues to bank

Polar Industries Ltd has informed the Exchange regarding the outcome of Board meeting held on June 28, 2008. The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).<a href=/content/corporate/Polar_OutcomeofBoardmeeting_30062008.zip target=NEW> For more details click here.</a>

Polar Industries Ltd has informed the Exchange that "Mr. Viswanath G. Malagi has resigned from the post of Company Secretary of the Company with effect from 22nd April, 2008. Till the position of Company Secretary is filled up by a suitable candidate Mrs. Samta Agarwal, the Asst. Company Secretary of the Company will be acting as the Compliance Officer of the Company and will be directly liaising with the authorities such as SEBI, Stock Exchanges, Registrar of Companies etc., and investors with respect to implementation of various clauses, rules, regulations and directives of such authorities

Polar Industries Ltd has informed the Exchange that the company has opted to submit Audited Financial Results for the entire financial year i.e. 2007-2008 within three months of end of the financial year, i.e. within June 30, 2008 instead of submitting the unaudited financial results for the last quarter ended March 31, 2008.

Polar Industries Ltd has informed the Exchange regarding the outcome of Extra Ordinary General Meeting held on April 21, 2008. The copy of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).<a href=/content/corporate/Polar_EGM_24042008.zip target=NEW> For more details click here.</a>

Polar Industries Ltd has informed the Exchange vide its letter dated April 21, 2008 that: "At the just concluded Board Meeting the members of the Board have resolved as under: 1) Audit and Remuneration Committees of the Board have been reconstituted; 2) M/s. K.L. Jaisingh & Co. Cost Accountants have been appointed as Cost Auditors of the Company for the Financial year 2008-09; 3) Accepted the Debt Restructuring package as approved by Asset Reconstruction Company of the India Limited; 4) Accepted the resignation of Mr. Vishwanath G. Malagi, Company Secretary, from the services of the Company an

Polar Industries Ltd has informed the Exchange that "The following changes have taken place in the Directorship of the Company: (a) IFCI Ltd. has by way of its letter dt.25.03.2008 withdrawn its nomination of Mr. S K Vats from the Directorship of the Company; (b) Asset Reconstruction Company of India Limited (ARCIL) has by way of its letter dt. 07.04.2008 nominated Mr. Sanjoy Gupta on the Board of Directors of the Company". Further the Company has submitted a list of Directors of the Company as on April 10, 2008. The details of the same shall be available on the NSE website (http://www.nseindi

Polar Industries Ltd has informed the Exchange that: "Asset Reconstruction Company of India Limited (ARCIL) vide its letter dt.31.03.2008 has informed to the Company that they have purchased debts of the Company from some of the existing lenders namely IFCI Ltd., Punjab National Bank, Allahabad Bank, Bank of Maharashtra and Union Bank of India. ARCIL have also restructured the debt to be repaid over a period of 5 years. The acquisition of the debt by ARCIL and restructuring thereafter has been post One Time Sanction (OTS) by the FIs/Banks under CDR Mechanism".

Polar Industries Ltd has informed the Exchange that pursuant to section 192A of the Companies Act, 1956 read with Companies (Passing of Resolutions by Postal Ballot) rules, 2001 approval of the shareholders of the Company is sought by way of Postal Ballot in respect of the following Ordinary Resolutions: 1) To authorise the Board of Directors of the Company, u/s 293 (1) (a) and other applicable provisions, if any, of the companies Act, 1956 and the Memorandum & Articles of Association of the Company and Subject to such other consents, permissions and approvals as may be required, to dispose of

Polar Industries Ltd has informed the Exchange that : "The Board of Directors of the Company, by way of resolutions passed by circulation, have approved the following : a) disposal of the entire undertaking of the Ceiling Fan Division unit located at A-2, Sector 5, Noida - 201301 and Corporate Office unit located at A- 105, Sector 5, Noida - 201 301 subject to consent of the members in general meeting and such other appropriate approvals as may be required ; b) approval of Postal Ballot process for obtaining members approval under section 293(1)(a) of the Companies Act, 1956 and c) convening

Polar Industries Ltd has informed the Exchange that the auditors have conducted the limited review of the unaudited financial results for the quarter ended December 31, 2007. The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).<a href=/content/corporate/Polar_LR_11032008.zip target=NEW> For more details click here.</a>

Polar Industries Ltd has informed the Exchange vide its letter dated March 10, 2008 that: " At the just concluded meeting, the Board of Directors of the Company have inter- alia considered the following: a) approved cancellation of the allotment of 14,00,000 shares of Rs.10/- each out of the 40,00,000 equity shares of Rs.10/- each made at a premium of Rs. 4.70 per share to promoters on 20.08.2007 on conversion of 40,00,000 Zero Coupon Convertible warrants of Rs. 14.70 each, to comply with the requirement of securities and Exchange Board of India (Substantial Acquisition of shares and Takeover

Polar Industries Ltd had informed the Exchange that a meeting of the Board was held on February 22, 2008 to inter-alia consider convening of an Extra Ordinary General Meeting of the members of the Company for the purpose of grant of necessary authority to the Board u/s 81 (1A) to issue and allot Convertible Warrants to Promoters of the Company. Since certain clarifications / legal opinions have been requisitioned by the members of the Board, when considering the matter relating to allotment of Convertible Warrants to Promoters and convening of Extra Ordinary General Meeting for the said purpos

Polar Industries Ltd has submitted to the Exchange a copy of the proceedings of the Annual General Meeting of the members of the Company held on September 29, 2007. A copy of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).<a href=/content/corporate/POLARINDUSTRIES_AGM_16102007.zip target=NEW> For more details click here.</a>

Polar Industries Ltd had informed the Exchange regarding the Annual General Meeting to be held on September 27, 2007. The Company has now informed the Exchange that due to certain unavoidable circumstances the AGM has been postponed and the same shall now be held on September 29, 2007.

Polar Industries Ltd has informed the Exchange that: "Corporate Debt Restructuring (CDR) Cell has by way of its letter dt. CDR(AG) No. 576/2007-08 dt. 22.08.07, informed the Company that CDR Empowered Group has at its meeting held on July 30, 2007 approved Company's offer of Rs.32.00 crore for One Time Settlement of Company outstanding debts of Rs.90.57 crore".

Polar Industries Ltd has informed the Exchange that the Company has decided to keep the Register of Members closed from September 17, 2007 to September 22, 2007 (both days inclusive) for the purpose of Annual General Meeting to be held on September 27, 2007.

Polar Industries Ltd has informed the Exchange that "Auditors have qualified their report on the audited accounts for the year ended 31.03.2007 (a) for preparation of accounts on going concern basis as the networth has become negative (b) non provision of penal interest on overdue loans. (c) Inability of auditors to comment about the extent of recovery of Rs.1724.99 lac due from a trade debtor, considered good by the management. The Management's reply to auditors Qualification are: (a) on One Time Settlement (OTS) of the dues (as referred above) and induction of further capital the networth wi

Polar Industries Ltd has submitted to the Exchange a copy of the proceedings of 23rd Annual General Meeting of the members of the Company held on March 31, 2007. A copy of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).<a href=/content/corporate/PolarIndustries_AGMProceedings.zip target=NEW> For more details click here.</a>

Polar Industries Ltd has informed the Exchange that "The Company had by way of letter dt 27.02.2007 made reference to Board for Industrial & Financial Reconstruction (BIFR) in terms of section 15(1) of the Sick Industrial Companies (Special Provisions) Act, 1956. The said reference was declined by the Registrar of BIFR on certain grounds. On an appeal submitted to the Secretary, BIFR the reference of the Company has been admitted vide order dt. 18.04.2007 and registration has been granted as Case No. 33/2007.

The Company had informed the Exchange that "The Board of Directors of the Company had at its meeting held on 28.03.2007 resolved that the Financial Year 2006-07 shall constitute a period of 6 (six) months commencing from 01.10.2006 and ending on 31.03.2007." The Company has now further informed the Exchange that "we will publish Audited Results within a period of 3 months (i.e. within 30.06.2007) from the end of the last quarter of the financial year 2006-07.

Polar Industries Ltd has informed the Exchange that "The Board of Directors of the Company had at its meeting held on 28.03.2007 resolved that the Financial Year 2006-07 shall constitute a period of 6 (six) months commencing from 01.10.2006 and ending on 31.03.2007."

Polar Industries Ltd has informed the Exchange that: "The Board of Directors of the Company had at its meeting held on 28.03.2007 approved the appointment of M/s. Asia Pacific Brands India Limited, Mumbai (APBIL) as Distributor of POLAR products. The necessary formalities relating to the said appointment including entering into Distributorship Agreement have been duly completed today (April 05, 2007). Further, the Company has terminated the subsisting Selling Agency Agreement relating to sale of POLAR products with Polar International Limited, w.e.f. 02.04.2007".

Polar Industries Ltd has informed the Exchange that: "At the 23rd Annual General Meeting of the Company held today (April 02, 2007), Poll was conducted in respect of resolution for adopting the Audited Accounts of the Company for the 18 months period ended 30/09/2006". Further, a copy of the report of the Scrutinizers along with the results as declared by the Chairman of the meeting shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).<a href=/content/corporate/polar_poll_030407.zip

Polar Industries Ltd has informed the Exchange that the auditors have conducted the limited review of the unaudited financial results for the quarter ended December 31, 2006 . The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).<a href=/content/corporate/Polarind_LR.zip target=NEW> For more details click here.</a>

Polar Industries Ltd has informed the Exchange that it has been decided to keep the Register of Members closed from 26.03.2007 to 31.03.2007 (both days inclusive) for the purpose of Annual General Meeting to be held on 31st March, 2007.

Polar Industries Ltd has informed the Exchange that "Auditors have qualified their report on the audited accounts for the period ended 30.09.06 (a) for preparation of acounts on going concern basis as the networth has become negative (b) non provision of penal interest on overdue loans. The Management's reply to auditors Qualification are (a) on OTS of the dues (as refered above) and induction of further capital the networth will become positive (b) In View of likely OTS the company has not provided penal interest".

Polar Industries Ltd had informed the Exchange that the financial year has been extended from 12 months to 18 months (April 2005 to September 2006) for which the Company had already received requisite permission from the Registrar of Companies. The Company has now informed the Exchange that the Company has received �ROC Certificate no. 499999 WB1982 PLC 034996 dated 19.12.06 for extension of accounting year for the period from 31.3.2006 to 30.9.2006 (18 months) and extension of AGM upto 31.03.2007�.

Polar Industries Ltd has informed the Exchange that the financial year has been extended from 12 months to 18 months (April 2005 to September 2006) for which the Company had already received requisite permission from the Registrar of Companies. In view of above, the Company will publish audited accounts for the quarter ended September 2006 as well as for financial year comprising 18 months on or before December 31, 2006.

Polar Industries Ltd had informed the Exchange regarding resignation of Company Secretary, Mr. Raj Kumar Agarwal w.e.f. August 23,2006. The company has now informed the Exchange that Mr. Vishwanath G. Malagi has been appointed as Company Secretary of the Company w.e.f. October 10,2006. Further, the matter relating to appointment of Mr. Malagi, as the Compliance Officer of the Company shall be taken up by the Board at its next Board Meeting. In the intervening period, Mr. Anup Luharuka, AGM (Finance) of the Company has been authorised by the Board to carry out the functions of Compliance Office

Polar Industries Ltd has informed the Exchange that the board of directors in their meeting held on August 25,2006 approved the extension of financial year of the company by six months i.e. upto September 30,2006 and also extension of time for holding AGM for the financial year 2005-06 by 3 months i.e. upto March 31,2007, subject to approval of Registrar of Companies, West Bengal. The board of directors decided to review the status of sickness of the company in terms of provisions of The Sick Industrial Companies (Special Provisions) Act, 1985 on the basis of audited accounts for the acconting

Shailja Agarwal has informed the Exchange that she has sold 18,000 (0.13%) shares of Polar Industries Ltd through Off Market (Inter Se Transfer). After this sale, the holding of Shailja Agarwal will be 34,428 shares (0.25%).

Polar Industries Ltd has informed the Exchange that Shailja Agarwal has sold 18,000 (0.13%) shares of Polar Industries Ltd through Off Market (Inter Se Transfer). After this sale, the holding of Shailja Agarwal will be 34,428 shares (0.25%).