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| Exchange Disseminated Time | ARSS Infrastructure Projects Ltd has informed BSE that the members at the 10th Annual General Meeting (AGM) of the Company held on July 31, 2010, inter alia, have accorded to the following:
1. Adoption of the Audited Balance Sheet as at March 31, 2010 and Profit & Loss Account for the year ended on that date and the reports of the Directors and Auditors thereon.
2. Re-appointed Mr. S.C.Parija & Mr. S.R.Chaudhuri, as Directors of the Company.
3. Ratified & confirmed Interim Dividend of 20% on equity capital declared by the Board of Directors in their meeting held on March 24, 2010.
4. Re-appointed M/s. P. A. & Associates, Chartered Accountants, Bhubaneswar, as Auditors of the Company to hold offices from the conclusion of this Meeting till the conclusion of the next Annual General Meeting of the Company and that the Board of Directors be and is hereby authorised to fix their remuneration for the period.
5. Accorded approval of the Company for payment of remuneration of Rs. 12,50,000/- (Rupees twelve lacs fifty thousand only) consolidated per month to Sri Subash Agarwal, Chairman of the Company with effect from April 01, 2010 with liberty to the Board of Directors to alter and vary the terms and conditions and/or remuneration, not exceeding the limits specified under schedule XIII to the Companies Act, 1956 or any statutory modification(s) or re-enactments thereof.
6. Accorded approval of the Company for payment of remuneration of Rs.7,50,000/- (Rupees seven lacs fifty thousand only) consolidated per month to Sri Rajesh Agarwal, Managing Director of the Company with effect from April 01, 2010 with liberty to the Board of Directors to alter and vary the terms and conditions and/or remuneration, not exceeding the limits specified under schedule XIII to the Companies Act, 1956 or any statutory modification(s) or re-enactments thereof.
7. Accorded consents of the Company for payment of remuneration of Rs.1,50,000/- (Rupees one lacs fifty thousand only) consolidated per month to Sri S.S Chakraborty ,-Director (Technical) of the Company with effect from April 01, 2010 with liberty to the Board of Directors to alter and vary the terms and conditions and/or remuneration, not exceeding the limits specified under schedule XIII to the Companies Act, 1956 or any statutory modification(s) or re-enactments thereof.
8. Accorded approval of the Company for payment of remuneration of Rs.1,50,000/- (Rupees one lacs fifty thousand only) consolidated per month to Sri S.K.Pattanaik, Director (Finance) of the Company with effect from April 01, 2010 with liberty to the Board of Directors to alter and vary the terms and conditions and/or remuneration, not exceeding the limits specified under schedule XIII to the Companies Act, 1956 or any statutory modification(s) or re-enactments thereof.
9. Enhancement of salary of Mr. Sunil Agarwal as President & Chief Executive Officer of the Company who is a relatives of the Directors to Rs. 7,50,000/- ( Rupees seven lacs fifty thousand only) per month consolidated w.e.f. April 01, 2010 for a period of 5 years, subject to necessary provisions and approvals.
Enhancement of salary of Mr. Anil Agarwal as Sr.Vice President & Chief Operating Officer of the Company who is a relatives of the Directors to Rs. 7,50,000/- ( Rupees seven lacs fifty thousand only) per month consolidated w.e.f. April 01, 2010 for a period of 5 years, subject to necessary provisions and approvals.
Enhancement of salary of Mr. S.K.Singla as VP & Project Head of the Company who is a relatives of the Directors to Rs. 7,50,000/- (Rupees seven lacs fifty thousand only) per month consolidated w.e.f. April 01, 2010 for a period of 5 years, subject to necessary provisions and approvals.
10. Accorded the consent to the Company to pay a sitting fee of Rs. Rs. 20,000/- for attending the committee meetings in terms of provision of section 310 of the Companies Act, 1956 read with Article 119 of Articles of Association of the Company. |
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