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| Exchange Disseminated Time 24/10/2016 18:05:23 | Satra Properties India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 24, 2016, where along with other matters the Board has considered and approved the following;
1. Upon recommendation received from Nomination and Remuneration Committee, the Board has appointed Mr. Rushabh P. Satra as Additional Director (Category: Non-Executive, Non Independent) of the Company w.e.f October 24, 2016. The following are the Details as per Schedule III Part A of part A SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015:
Reason for appointment - On account of change in composition of Board and to expand the Board in light of growth of the Company
Date of Appointment & term of appointment - Appointed w.e.f. October 24, 2016 shall hold office upto the date of the forthcoming General Meeting of the Company, pursuant to the Section 161 of the Companies Act, 2013 read with relevant rules and in accordance with the Article of Association of the Company
Brief Profile - Mr. Rushabh P. Satra is BBA from Kingston University, London having more than 2 years of experience in Real Estate and Construction Industry
Disclosure of relationships between directors - Mr. Rushabh P. Satra is son of Mr. Praful N. Satra, Chairman and Managing Director of the Company
2. Due to pre-occupation, Mr. Rajan P. Shah would not be able to devote time to the affairs of the Company accordingly Mr. Rajan P. Shah has resigned from the office of Non-Executive Director of the Company w.e.f. closing of business hours of October 24, 2016. The Board places on record its " appreciation for the services rendered by him during his tenure with the Company.
3. In view of the changes in composition of Directors, the relevant committees are reconstituted accordingly.
The Meeting of the Board of Directors of the Company commenced at 5.00 p.m. and concluded at 5.35 p.m. |
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