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| Exchange Disseminated Time | Savera Industries Ltd has informed BSE that the members at the Annual General Meeting (AGM) of the Company held on September 25, 2010, inter alia, have accorded to the following:
1. Shareholders have received, considered and adopted the Audited Profit and Loss Account for the year ended March 31, 2010, and the Balance Sheet as at that date together with the Report of the Board of Directors and the Auditors thereon.
2. Declared the Dividend on ordinary shares @12% on equity Shares of Rs.10/- each.
3. Reappointed the Directors Sri. M. Chakravarthy, Ms. A Nivruti Reddy & Sri. B Ranga Reddy, who retired by rotation.
4. Reappointed Statutory Auditors M/s. D A Reddy E Co., Chartered Accountants, Chennai to hold office from the conclusion of 41st Annual General Meeting till the conclusion of the next Annual General Meeting and fixed their remuneration.
5. Approved Issue of Bonus Shares by the company in the ratio of 1:1 on the existing share capital of the Company.
6. Approved the increase of Authorised Share Capital upto Rs.12 Crores.
7. Approved the Amendment to Memorandum of Association increase in Authorised Share Capital.
8. Approved the Amendment to Articles of Association for increase in Authorised Share Capital.
9. Increased the Remuneration of the Executive Director (Operations) Mrs. A. Nina Reddy.
10. Increased the Remuneration of the Executive Director (Operations) Mrs. A. Ravikumar Reddy. |
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