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| Exchange Disseminated Time | Standard Industries Ltd has informed BSE that the members at the 114th Annual General Meeting (AGM) of the Company held on August 04, 2011, inter alia, have accorded to the following:
1. Adoption of the Directors' Report and the Audited Balance Sheet and Profit & Loss Account of the Company for the Financial Year ended March 31, 2011.
2. Declaration of the Dividend @ Re. 0.75 per share on 6,43,28,941 Equity Shares of Rs. 5/- each, amounting to Rs. 4,82,46,706/- for the Financial Year ended March 31, 2011.
3. Re-appointment of Shri R. J. Taraporevala & Shri Pradeep R Mafatlal, as Directors of the Company.
4. Appointment of Messrs. Deloitte Haskins & Sells, Chartered Accountants, Mumbai, as Auditors of the Company for the Financial Year commencing on April 01, 2011, to hold Office as such from the conclusion of this Meeting until the conclusion of the next Annual General Meeting, on remuneration, terms & conditions.
5. Appointment of Shri D. H. Parekh as a Director of the Company and he shall not be required to retire by rotation so long as he holds office as Whole-time Director, designated as Executive Director of the Company, subject to the provisions of Section 255 of the Companies Act, 1956.
6. Appointment of Shri D.H. Parekh as Whole-time Director designated as Executive Director of the Company for a period of 3 years from August 02, 2011, on the terms of appointment and remuneration including salary, commission and perquisites as set out in the draft Letter of Appointment to be issued to him, placed before the Meeting and initialed by the Chairman for the purpose of identification, which Letter of Appointment is hereby specifically approved with liberty to the Board of Directors of the Company (hereinafter referred to as “the Board” which term shall be deemed to include any Committee of the Board) to alter and vary the said terms of appointment and remuneration in such manner as may be agreed to between the Board and Shri D.H. Parekh, within the limits specified in Schedule XIII to the Companies Act, 1956, or any amendments thereto.
7. Accorded approval to Shri D.H. Parekh, Vice-President (Finance), who is appointed as an Additional Director of the Company with effect from June 03, 2011 and holds an office or place of profit under the Company for the period from June 03, 2011, the date of his appointment as an Additional Director of the Company, till August 02, 2011, the date of his appointment as Whole-time Director designated as Executive Director, at a remuneration in accordance with the terms of his appointment as Vice-President (Finance) of the Company.
8. Appointment of Shri K.J. Pardiwalla as the Director by the Shareholders in this Annual General Meeting and he shall be liable to retire by rotation. |
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