Realty major DLF today sought shareholders’ approval for the reappointment of billionaire K P Singh as Chairman for the next five years and also to increase the number of directors to 15.
DLF, the country’s largest real estate developer, would get the shareholders nod through postal ballots.
In the postal ballot notice filed with the BSE, DLF has sought shareholders approval for alteration in the Articles of Association to increase the maximum number of Directors to 15 from the current limit of 12.
The board currently comprises of 11 directors, of which 6 directors are independent.
DLF has also sought nod for reappointment of Singh as Chairman for five years with effect from October 1, 2013.
Singh has been the Chairman of the Company since October 1, 1995. His basic salary will be Rs 8 lakh per month, the notice said.
He had received Rs 4.52-crore remuneration in 2012-13 fiscal including salary, benefits, perquisites, allowances and commission.