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| Exchange Disseminated Time | Gandhimathi Appliances Ltd has informed BSE that the members at the 21st Annual General Meeting (AGM) of the Company held on December 28, 2007, inter alia, have accorded the following:
1. Adoption of the Audited Balance Sheet as at June 30, 2007, the Profit and Loss Account for the period of fifteen months ended on that date and the Report of the Directors and Auditors of the Company.
2. Re-appointment of Mr. M Padmanabhan & Mr. V R Sivaraman as Directors of the Company, liable to retire by rotation.
3. Re-appointment of M/s. Rudhrakumar Associates,, Chartered Accountant, Chennai, as Auditor of the Company from the conclusion of this Annual General Meeting until the conclusion of the next Annual General Meeting of the Company, on remuneration, terms & conditions.
4. Re-appointment of Mr. V M Balasubramaniam as Managing Director of the Company for a period of three years w.e.f. January 01, 2008 whose period of office shall not be subject to retirement by rotation during his tenure of office as Managing Director, on remuneration, terms & conditions.
5. Re-appointment of Mr. V M Gangadharam as Wholetime Executive Director of the Company for a period of three years w.e.f. October 01, 2007 whose period of office shall not be subject to retirement by rotation during his tenure of office as Whole-time Executive Director, on remuneration, terms & conditions.
6. Appointment of Mr. V M Kumaresan & Mr. D Krishnamurthy as Directors of the Company.
7. Appointment of Mr. V M Kumaresan as Wholetime Executive Director-Technical of the Company for a period of three years w.e.f. June 01, 2007, whose period of office shall not be subject to retirement by rotation during his tenure of office as Wholetime Executive Director-Technical, on remuneration, terms & conditions.
8. Appointment of Mr. D Krishnamurthy as Wholetime Executive Director cum Company Secretary of the Company for a period of three years w.e.f. November 01, 2007 and whose period of office shall be subject to retirement by rotation during his tenure of office as Wholetime Executive Director on remuneration, terms & conditions.
9. Appointment of Mr. V M L Karthieyan, a relative of Messrs. V M Lakshminarayanan, Chairman, V M Balasubramaniam, Managing Director, V M Gangadharam, Executive Director and V M Kumaresan, Executive Director-Technical of the Company to hold an office or place of profit as Vice President - marketing with w.e.f. June 01, 2007, on remuneration, terms & conditions.
10. Appointment of Mr. V M L Senthilnathan, a relative of Messrs. V M Lakshminarayanan, Chairman, V M Balasubramaniam, Managing Director, V M Gangadharam, Executive Director and V M Kumaresan, Executive Director-Technical, to hold office or place of profit as General Manager - Technical of the Company w.e.f. February 01, 2007, on remuneration, terms & conditions.
11. Appointment of Mr. V M G Viswanathan, a relative of Messrs. V M Lakshminarayan, Chairman, V M Balasubramanian, Managing Director, V M Gangadharam, Executive Director and V M Kumaresa, Executive Director- Technical, to hold office or place of profit as General Manager - Material Management of the Company w.e.f. February 01, 2007, on remuneration, terms & conditions.
12. Authority to the Board to provide Corporate Guarantee along with LLM Appliances Ltd, and Gangadharam Appliances Ltd, in favour of Dewan Housing Finance Corporation Ltd (DHFL), Mumbai for all liabilities arising in respect of the following mortgage loans (including interest and penal charges) availed by the associates of the Company named hereunder against mortgage of their own properties, notwithstanding that such guarantee together with the Company's existing investments, loans granted to the grantees / securities provided may exceed the limits specified under Section 372A of the Act.
i. M/s. LLM Appliances Ltd, Chennai represented by its Managing Director: Rs 10.75 Crores
ii. M/s. Vishalls Enterprises, Chennai represented by its Partners, Mrs. V M B Unnamalai, Mrs. V M S Karpagam and Mrs. V M K Mangalam: Rs 4.75 Crore
iii. Mr. V M S Namasivayam, Mr. V M L Senthinathan, Mr. V M G Viswanathan, Mr. V M S Kumaraguru represented by Mr. V M S Namasivayam: Rs 6.00 Crore
That the Board of Directors be and is hereby authorised to do all such deeds, acts and things arising out of and / or in relation with the aforesaid guarantee. |
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