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| Exchange Disseminated Time | Gravita India Ltd has informed BSE that the members at the 27th Annual General Meeting (AGM) of the Company held on July 27, 2011, inter alia, have accorded to the following:
1. Adoption of the Audited Balance Sheet as at March 31, 2011 and Profit and Loss Account for the financial year ended on that date together with the Directors Report, Auditors Report, Schedules and Notes thereon.
2. Recommended payment of dividend at the rate of 40% (Rs. 4/- per share) on the fully paid-up Equity Shares of Rs. 10/- each of the Company for the financial year 2010-11.
3. Re-appointment of Dr. Mahavir Prasad Agarwal & Shri. Arun Kumar Gupta as Directors of the Company.
4. Re-appointment of M/s. Rajvanshi & Associates, Chartered Accountants, Jaipur, as Auditors of the Company to hold office from the conclusion of this Annual General Meeting until the conclusion of the next Annual General Meeting of the Company at a remuneration, terms & conditions.
5. Accorded to the Company in terms of Section 163 of the Companies Act, 1956 to keep the copies of Annual Returns prepared under Section 159 of the Companies Act, 1956 together with copies of certificates and documents required to be annexed thereto under Section 161 of the Companies Act, 1956 or one or more of them along with Register of Members, Index of Members, Share Transfer and Transmission Registers etc at the Corporate Office of the Company i.e. 402, Rajputana Tower, A-27B, Shanti Path, Tilak Nagar, Jaipur 302 004, Rajasthan, India, subject to necessary provisions & approvals.
6. Revision in the remuneration of Shri. Rajat Agrawal, Managing Director of the Company, on necessary terms & conditions.
7. Revision in the remuneration of Mr. Rajeev Surana, Whole-Time Director of the Company, on necessary terms & conditions.
8. Authority to the Board to change the investment profile of amount raised through IPO of the Company from existing objectives, on necessary terms & conditions.
9. Authority to the Board to create, offer, issue and allot from time to time to or to the benefit of such person(s) who are in permanent employment of the Company, including any Directors of the Company, whether whole time or otherwise except persons / employees covered under ‘Promoters and Promoter Group’ (as defined in SEBI Guidelines mentioned ibid) under a scheme titled “Gravita Employees Stock Option Plan 2011” (“ESOP” or “Scheme” or “Plan”) such number of equity shares and/or equity linked instruments (including options), and/or any other instruments or securities (“Securities”) of the Company which could give rise to issue of equity shares, of Rs. 10/- each, not exceeding 5% of the paid up equity capital of the Company i.e. 681,000 equity shares of Rs. 10/- each, as determined from time to time, at such price, in one or more tranches, and on such terms and conditions as may be fixed or determined by the Board in accordance with the guidelines or other provisions of the law or guidelines issued by the relevant Authority or as may be prevailing at that time, subject to necessary terms & Conditions.
10. Granted the employees of the subsidiary or holding Company of the Company, now or hereinafter existing, eligible for the proposed stock options under the ‘Gravita Employee Stock Option Plan 2011. |
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