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| Exchange Disseminated Time | Kilitch Drugs India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 14, 2013, inter alia, has:
1. Approved to make investments in other Body Corporate which shall not exceed 60% of the aggregate of the paid-up share capital and free reserves and/or 100% of the aggregate of free reserves of the Company as per the limits prescribed under Section 372A of the Companies Act, 1956.
2. Approved the amendment in the Memorandum of Association of the Company by way of insertion of new Main Object Clause bearing No. 1A in PART Ill A of Memorandum of Association of the Company, after the existing Main Object Clause No. 1.
3. Approved and finalized the Notice of Postal Ballot under Section 192A of the Companies Act, 1956 making investment in other Body Corporate pursuant to Section 372A and amendment in the Memorandum of Association of the Company pursuant to Section 17 of the Companies Act, 1956.
4. Authorized Mr. Mukund Mehta, Managing Director of the Company, to oversee the entire Postal Ballot Process, as aforesaid;
5. Appointed Mr. Deep Shukla, Practicing Company Secretary as a Scrutinizer to conduct the Postal Ballot process and to submit the Report to the Board of Directors for declaration of the results.
6. Other Matters:
Board of directors made a note of letter received from statutory auditor M/s. R. N. R. lyer and Co not seeking reappointment at ensuing AGM and hence the board of directors recommended the appointment of M/s. A.M. Ghelani & Co., Chartered Accountants, as the new Statutory Auditors of the Company for the F.Y.2013-2014, subject to the approval of the Members of the Company at the ensuing 21st Annual General Meeting. |
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