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| Exchange Disseminated Time | Kinetic Engineering Ltd has informed BSE that the Board of Directors of the Company at its meeting held on June 28, 2014, have approved the following agenda:
- To appoint Mr. Ramesh J. Kabra as additional director of the Company in independent capacity.
- To establish vigil Mechanism/whistle Blower policy as per Section 177 of the Companies Act. 2013 read with the Companies (Meetings of Boards and Its Powers) Rules 2014 and the Listing Agreement.
- To adopt Code of Conduct for Independent Directors Section 149 read with Schedule IV of the Companies Act 2013 and Rules made under Chapter Xl of the said Act.
- To adopt the revised Code of Conduct for Directors & Senior Management of the Company as per Companies Act, 2013 and Listing Agreement-
- The Board of Directors further discussed that the Company had received gross sale proceeds from Mahindra Two Wheelers Limited shares upto Rs. 1,22,11,44,168/- .The sales proceeds was to be allocated as per the Board’s directions and accordingly Rs. 15,48,94,762/-was paid towards professional fees Including redemption of CCD’S and Rs. 4,30,00,000 was given to meet the statutory liabilities of the Company, while the balance amount of Rs. 1,02,55,00,000/- which is kept deposited in interest bearing account in the name of the Company. |
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