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| Exchange Disseminated Time | Keerthi Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 14, 2015, inter alia, has approved the following proposals:
1. Approved the proposal for reappointment and fixation remuneration of Mr. JS Rao as Managing Director for a period 3 years with effective from May 10, 2015 (copy of Board resolution enclosed).
2. Approved the proposal for reappointment and fixation remuneration of Mr. J Triveni as Executive Chairperson for a period 3 years with effective from May 10, 2015 . (copy of Board resolution enclosed).
3. Approved the notice of postal Ballot for getting assent of Equity shareholders on the following Proposals:
i. To extend the date of redemption of 770100 - 9% cumulative redeemable preferential shares of Rs. 100/- each by 5 (five) more years.
ii. To get Prior Approval to borrow not exceeding Rs. 400 Crores in cases the existing and the proposed borrowings exceed twice the paid-up capital and free reserves.
iii. To get prior Approval for Mortgage or charge of assets of the Company for the future borrowings.
iv. To Ratify the remuneration of Cost Auditors.
v. To approve the Appointment and fixation of remuneration of Smt. J Trivni as Whole time Director and Executive Chairperson.
vi. To approve the Appointment and fixation of remuneration of Sri. J S Rao as Managing Director. |
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