Others

Outcome of Board Meeting

| Updated on February 02, 2018 Published on May 15, 2017

This is to inform that the Board of Directors of the Company, at their meeting held today has inter-alia approved the followings: a. The Audited Financial Results of the Company along with Audit Report, for the financial year ended 31st March, 2017. The said financial results along with the Audit Report (with unmodified opinion) issued by M/s Singhi & Co, Statutory Auditors of the Company and declaration signed by the Managing Director in accordance with Regulation 33(3) (d) of SEBI (Listing Obligations & Disclosure Requirements), 2015 are enclosed. b. Recommended a dividend of 155% (Rs 1.55 per equity share of Re. 1) for the financial year ended 31st March, 2017, subject to the approval of shareholders in the ensuing Annual General Meeting of the Company. c. Re- appointed Sri Sharan Bansal as Whole Time Director for a further period of three years from 1st July, 2017, , subject to the approval of shareholders in the ensuing Annual General Meeting of the Company. Details as required under Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements), 2015 read with SEBI circular dated 9th September, 2015 Sl No Details of Event Remarks 1 Reason for Change Re-appointment for further period of 3 years w.e.f 1st July, 2017 2 Date of Appointment & Terms of Appointment W.e.f – 1st July, 2017 a. Salary- Rs. 2.40 crores p.a b. Perquisites- Upto Rs. 2 lakhs p.a 3 Brief Profile Sri Sharan Bansal is a Bachelor of Science in Mechanical Engineering from the Georgia Institute of Technology, USA. Sri Sharan Bansal is a Director of the Company for more than a decade. He initiated the Transmission Towers vertical at Skipper and within a decade, has grown it into one of Indias largest Transmission Tower manufacturers with 4 large plants with a capacity of 230,000 MT per annum (including poles). 4 Disclosure of relationship between directors Sri Sharan Bansal is son of Sri Sajan Kumar Bansal, Managing Director and brother of Sri Devesh Bansal and Sri Siddharth Bansal, Whole Time Directors of the Company. The meeting of Board of Directors commenced at 1 p.m. and concluded at 3.05 p.m. Kindly take the same for your record.

Pdf Link: Outcome of Board Meeting

Source : BSE - www.bseindia.com

Published on May 15, 2017
This article is closed for comments.
Please Email the Editor