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| Exchange Disseminated Time | Vinyl Chemicals India Ltd has informed BSE that the members at the 20th Annual General Meeting (AGM) of the Company held on August 01, 2006, inter alia, have accorded to the following:
1. Adoption of the audited Balance Sheet as at March 31, 2006, the Profit and Loss Account and Cash Flow Statement for the year ended on that date together with Directors' Report and Auditors Report thereon.
2. Re-appointment of Shri Bansi S Mehta, Shri A K Basu Roy & Shri B K Parekh, as Directors of the Company, liable to retire by rotation.
3. Re-appointment of M/s D A Kothari & Co., Chartered Accountants, Mumbai, & M/s Haribhakti & Co., Chartered Accountants, Mumbai, as Joint Auditors of the Company to audit the accounts for the financial year 2006-07 from the conclusion of this meeting till the conclusion of the next Annual General Meeting of the Company, on remuneration, terms & conditions.
4. Re-appointment of Shri M B Parekh as the Managing Director of the Company for a further period of 5 years with effect from April 01, 2007, on remuneration, terms & conditions.
5. Payment of Commission on the net profits of the Company calculated in accordance with the provisions of Sections 198, 349 and 350 of the Companies Act, 1956, be paid to the Directors of the Company or some or any of them (other than the Managing Director and Whole Time Director/s of the Company) in such amounts, subject to such ceiling/s and in such manner and in all respects as may be decided and directed by the Board of Directors and such payments shall be made in respects of the profits of the Company for each year of the period of five years commencing from April 01, 2007. |
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