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| Exchange Disseminated Time | Maithan Alloys Ltd has informed BSE that the members of the Company will consider to approve by way of Postal Ballot the following Resolutions:
1. Re-appointment of Sri. Basant Kumar Agarwalla, as Chairman and Whole Time Director of the Company for a period of 5 years with effect from April 01, 2011, on remuneration, terms & conditions.
2. Re-appointment of Sri. Subhas Chandra Agarwalla as Managing Director and Chief Executive Officer (CEO) of the Company for a period of 5 years with effect from April 01, 2011, on remuneration, terms & conditions.
3. Re-appointment of Sri. Subodh Agarwalla, as Whole Time Director and Chief Operating Officer of the Company for a period of 5 years with effect from April 01, 2011, on remuneration, terms & conditions.
4. To increase the salary of Sri. Aditya Agarwalla from time to time upto July 22, 2013, up to a maximum limit of Rs.10,00,000/- (Rupees Ten Lac only) per month and to pay an annual commission upto 1.50% of the net profit of the Company to be computed in the manner laid down under section 198 and 309 of the Companies Act, 1956, with effect from April 01, 2011,provided that other terms and conditions of his appointment shall remain the same as per the agreement dated July 23, 2008 entered into between the company and Sri Aditya Agarwalla.
The Company has appointed Sri. Jeetendra Patnaik, a Company Secretary in whole time practice, as the Scrutinizer for conducting the Postal Ballot process in a fair and transparent manner.
The Postal Ballot form duly completed should reach the scrutinizer on or before March 23, 2011. The scrutinizer will submit his report to the Chairman of the Company after completion of the scrutiny and the results of the postal ballot will be announced through press release. (For more details kindly refer Corporate Announcements on www.bseindia.com). |
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