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| Exchange Disseminated Time | Gujarat State Fertilizers & Chemicals Ltd has informed BSE that the members at the 46th Annual General Meeting (AGM) of the Company held on September 26, 2008, inter alia, have accorded to the following:
1. Adoption of the Audited Balance-sheet as at the March 31, 2008 and Audited Profit and Loss Account for the year ended on that date and the Auditor's Report thereon and Director's Report to the members for the year ended on that date.
2. Declaration of Dividend @ Rs 4.50 per share on equity shares of Rs 10/- each for the year ended on March 31, 2008.
3. Re-appointment of Shri. D C Anjaria & Prof. Vasant P Gandhi as Directors of the Company.
4. Authority to the Board to fix the remuneration to the Statutory and Branch Auditors appointed by the Comptroller and Auditor General of India to audit the accounts of the Company for the financial year 2008-09 at Head Quarters for Baroda Unit, Sikka Unit, Polymers Unit and Fibre Unit of the Company for the financial year 2008-09, on necessary terms & conditions.
5. Appointment of Shri. D Rajagopalan, IAS as a Director of the Company, liable to retire by rotation.
6. Appointment of Shri. H V Patel, IAS as Managing Director of the Company, on remunerations, terms & conditions.
7. Authority to the Board to contribute and / or subscribe and / or otherwise to assist from time to time any charitable, benevolent, public or general and other funds and to any society, association or institution which has as its object the undertaking of any programme of Socio Economic Development / Rural Development and / or expenditure on any programme of Soclo Economic / Rural Development, notwithstanding that such contributions, subscriptions and expenditure which do not directly relate to the business of the Company or the welfare of its employees, upto a total amount not exceeding 30% of the Profit before Tax in respect of Financial Year 2008-09, in one go or in one or more installments as may be considered fit and proper by the Board of Directors, notwithstanding the fact that the said amount may exceed Rs 50,000/- or 5% of the Company’s average net profits, as determined in accordance with the provisions of Section 349 and 350 of the Companies Act, 1956, during the three financial years immediately preceding the financial year 2005-09, whichever is greater, subject to necessary provisions & approvals. |
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