Outcome of Board Meeting

Patspin India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 17, 2015, has considered the following:

1. Induction of Smt. Pamela Anna Mathew as an Additional Director pursuant to Section 161 of the Companies Act, 2013 with effect from March 17, 2015.

2. Proposal for disposal of 4 nos. windmills totaling to 5.8 MW of the Company, subject to approval of shareholders and lenders.

- As the disposal of wind mills of the Company may deemed to be sale or otherwise disposal of whole or substantially the whole of the undertaking, pursuant to Section 180 (1) (a) of the Companies Act, 2013 read with Rule 22 of the Companies {Management & Administration) Rules, 2014, the approval of the members has to be obtained through postal ballot process / e-voting.

- For this purpose, the Board of Directors has approved the cut off date as March 20, 2015 for determining voting right of shareholders entitled to participate in the postal ballot / e-voting process.

- The Board of Directors has also appointed Shri MRL Narasimha, Practicing Company Secretary as Scrutinizer for conducting the e-voting / postal ballot in accordance with the law in a fair and transparent manner.

Source : BSE - >www.bseindia.com

Published on March 18, 2015
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