Outcome of Circular Resolution by Board of Directors

Divis Laboratories Ltd has informed BSE that the Board of Directors through Circular resolution dated March 07, 2012 has decided to seek shareholders approval by postal ballot for:

1. Re-appointment and revision in remuneration of Mr. Madhusudana Rao Divi as Director - Projects of the Company.

2. Re-appointment and revision in remuneration of Mr. Kiran S. Divi Director & President- Operations of the Company.

3. Enhancement of remuneration of Dr. Murali K. Divi, Chairman & Managing Director of the Company.

4. Enhancement of remuneration of Mr. N. V. Ramana, Executive Director of the Company.

Accordingly notice pursuant to section 192(A) of the Companies Act 1956 along with explanatory statement under section 173 (2) of the Companies Act 1956 is being sent to shareholders for passing of resolutions. Board has appointed Mr. V. Bhaskara Rao, Practicing Company Secretary, as the scrutinizer for conducting the Postal Ballot process in a fair and transparent manner. The duly completed Postal Ballot form should reach the Scrutinizer not later than the close of working hours on April 18, 2012 and the result of the Postal Ballot will be announced by a Director on April 20, 2012.

Source : BSE - >www.bseindia.com

Published on March 19, 2012


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