Responsive Industries Ltd. - Outcome of Board Meeting

| Updated on May 24, 2019 Published on May 24, 2019

Pursuant to Regulation 33 and Regulation 30 read with Part A of Schedule III of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform that the Board of Directors of the Company at its meeting held on Friday, 24th May, 2019 has transacted the following item of business:
1. Financial Result:
The Board has approved the Audited Financial Results (Standalone & Consolidated) for the quarter and year ended March 31, 2019. Copy of Audited Financial Results, Statement of Assets & Liabilities along with Auditors Report on Standalone & Consolidated financial results and Declaration with respect to unmodified opinion is enclosed herewith.
2. The Board has recommended a dividend of Re. 0.12/- per equity share (i.e. 12%) of Re.1/- each for the financial year ended March 31, 2019 subject to approval of shareholders in ensuing Annual General Meeting. Dividend, if approved by the shareholders will be paid after ensuing Annual General Meeting.
3. The 37th Annual General Meeting of the Company will be held on Friday, 27 September, 2019.
4. The Board has appointment M/s Shah & Taparia, Chartered Accountants, Mumbai (FRN:109463W) as joint auditor along with the current statutory auditor M/s SGCO & Co. LLP, Chartered Accountants, Mumbai (FRN: 112081W/W100184) for a term of 5 years subject to approval of shareholders in the ensuing annual general meeting of the Company. Brief profile enclosed in Annexure A.
5. Noted resignation of Mr. Rajesh Pandey, Executive Director (DIN: 00092767) of the Company with effect from 27 February, 2019 on personal ground.
6. Appointment of Ms. Bhumika Jain (DIN: 08083360) as additional director (Non-Executive Independent) of the Company for a term of 5 years subject to approval of shareholders. The Brief profile is enclosed in Annexure B.
7. Review of Capital Investment:
Review and took note of the capital investment made by the Company till 31.03.2019 of Rs.172,94,87,528/- in its foreign subsidiary Responsive Industries Limited, Hong Kong towards setting up of manufacturing unit in UAE through its step-down subsidiary Responsive Industries Limited, UAE.

The meeting of Board of Directors of the Company commenced at 3.15 p.m. and concluded at 6.30 p.m.

Accordingly, please find enclosed herewith a copy of audited Financial Results for the quarter and financial year ended 31 March, 2019 along with Auditors Report issued by SGCO & Co. LLP, Statutory Auditors of the Company.

Pdf Link: Responsive Industries Ltd. - Outcome of Board Meeting

Source : BSE - www.bseindia.com

Published on May 24, 2019
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