Others

Outcome of Board Meeting

| Updated on: Nov 12, 2014

Medinova Diagnostic Services Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 10, 2014, inter alia, has transacted the following: 1. Taking note of Resignation of Directors: Copies of the resignation tendered by the Directors: i. Mr. A. Raghava Reddy ii. Mr. Ponaka Krishna Reddy iii. Mr. Supriya Basu Thakur, were taken on record and approved by the Board of the Company. The Board noted the proposed changes in their constitution. The Board has given authorization to its Directors for necessary filings with the ROC. 2. Taking note of general disclosure of interest of the newly appointed Directors: Pursuant to the provisions of See 184 of the Companies Act, 2013, the Board has taken on record the disclosure of interest of the Directors, Mr. Sura Surendranath Reddy, Director and Mr. Sunil Chandra Kondapally, Managing Director. The Board has given authorization to its Directors for necessary filings with the ROC. 3. To re-designate Mr. N. Ravi Kumar as Chief Financial Officer of the Company: The Board took on record the resignation tendered by the Manager, Mr. N. Ravi Kumar, and considered his re-designation as Chief Financial Officer (CFO) of the Company, being Key Managerial Personnel under See 203 of the Companies Act, 2013. The Board has given authorization to its Directors for necessary filings with the ROC. 4. Appointment of Independent Directors: The Board recommended appointment of 2 Independent Directors. Upon considering the criteria of their independence and pursuant to receipt of the declaration of independence, the Board has approved the proposed appointments: i. Mr. Kutagulla Venga Reddy Ravindra Reddy ii. Mr. P. Kamalakar Rao 5. Appointment of Director: The Board recommended appointment of Ms. Supritha Reddy on the Board. After due discussion and deliberation, the same was approved.

Source : BSE - >www.bseindia.com

Published on November 12, 2014

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