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| Exchange Disseminated Time | 3M India Ltd has informed BSE that the members of the Company will consider to approve the following resolutions by way of Postal Ballot:
1. So long as the Company has a Managing / Wholetime Director/s, such sum by way of commission not exceeding in the aggregate 1% per annum of the net profits of the company computed in the manner laid down in Sections 198, 349 and 350 of the Companies Act, 1956, for each of the 5 (five) financial years of the Company commencing from April 01, 2011, be paid to and distributed amongst the Independent Directors of the Company as may be determined by the Board, the proportion and manner of such payment and distribution, as the Board may from time to time, decide, subject to necessary provisions and approvals.
The Board of Directors has appointed Mr. G. Shanker Prasad, Practising Company Secretary, as Scrutinizer to receive and scrutinize the completed ballot papers from the Shareholders.
Duly completed Postal Ballot forms should reach the Company on or before September 09, 2011. The Scrutinizer will submit his report to the Managing Director/Whole-time Director after completion of the scrutiny and the results will be announced on September 14, 2011 at the Registered Office of the Company. |
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