Outcome of Board Meeting

| Updated on June 05, 2014 Published on June 05, 2014

Asahi Industries Ltd has informed BSE that the Board of Directors of the Company at its Meeting held on May 29, 2014, inter alia, has transacted the following business:

1. Considered and Approved the resignation of Mr. Pran Agarwal from the Directorship of the Company.

2. Board Constituted the Nomination and Remuneration Committee of the Company as per the provision of New Companies Act, 2013.

3. Board Appointed the Chief Financial Officer of the Company, Pursuant to the provision of New Companies Act, 2013.

4. Approved the Re-Appointment of M/s. Rajendra Singh Bhati & Co., Cost Accountant as a Cost Auditor of the Company for the Financial Year 2014-2015.

5. Mr. S. C. Bhargava, Chairman of Audit Committee express his unwillingness to be reappointed as Director of the Company.

6. Approved the constitution of Stakeholders Relationship Committee and decided upon its scope, role, functions, powers and allied matters in compliance with applicable provisions of sec 178 of Companies Act, 2013 and SEBI Circular dated April 17, 2014.

7. Renamed the Share Transfer! Investor Grievance Committee as Share Transfer Committee and revision of its scope in Line with Companies Act, 2013 and SEBI Circular dated April 17, 2014.

8. Approved and Established the Vigil Mechanism in accordance with Section 177 of Companies Act, 2013 and SEBI Circular dated April 17, 2014.

9. Appointed Mr. S. K. Jain & Co., Practicing Company Secretary, as the Secretarial Auditors of the Company for the Financial Year 2014-15.

10. Approved Revision in terms of reference of the Audit Committee in terms of Section 177 of the Companies Act, 2013 and SEBI Circular dated April 17, 2014..

Source : BSE - www.bseindia.com

Published on June 05, 2014

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