|
| Exchange Disseminated Time 25/01/2016 15:18:49 | Jagsonpal Pharmaceuticals Ltd has submitted to BSE a copy of Proceedings of the Meeting of the Board of Directors of the Company held on January 25, 2016
"Mr. Bharat Sinh, Independent Director, explained that there are number of changes under Company Act 2013, SEBI (LODR 2015) and other laws which require compliances more often as compared to Companies Act, 1956, SEBI and other laws. SEBI has modified new Listing Agreements and all the Listed Companies with different Stock exchanges have to execute, sign the new modified Listing Agreement latest by March, 2016, hence it is suggested that Mr. Rajpal Singh Kochhar, Mg. Director and/or Mr. R. K. Kapoor, Company Secretary to sign the Listing Agreement in line with requirements of law. The Board authorized for the same to sign, execute, and comply in respect of all laws jointly or severally by Managing Director and/or Company Secretary, to enact the same a resolution was passed.
Mr. Bharat Sinh, Independent Director, sought the clarification regarding the below par yielding assets of the Company. The Board, after having a lengthy discussion passed the following:
The Company’s Board then resolved that Mr. Rajpal Singh Kochhar, Managing Director, be authorized to disinvest substantial or part of the fixed assets of the Company, that are not yielding the desired return as was earlier envisaged. Mr. Rajpal Singh Kochhar, Managing Director, may be authorized to enter into any agreements/contracts with any party to give effect to such proposal subject to consent of Board in ensuing meeting and concurrence of shareholders as per provisions of the Companies Act 2013 and other applicable laws & provisions." |
|
|