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| Exchange Disseminated Time | IFB Agro Industries Ltd has informed BSE that the members at the 26th Annual General Meeting (AGM) of the Company held on August 29, 2008, inter alia, have accorded to the following:
1. Adoption of the Audited Balance Sheet as on March 31, 2008 and Profit & Loss Accounts and the Cash Flow for the year ended on that date together with Auditors' Report and Directors' Report thereon.
2. Re-appointment of Mr. Nandan Bhattacharya & Mr. A K Nag, as Directors of the Company.
3. Re-appointment of M/s. Maheshwari & Associates, Chartered Accountants, Kolkata as the Auditors of the Company from the conclusion of this Annual General Meeting upto the next Annual General Meeting of the Company on remuneration, terms & conditions.
4. Re-appointment of Mr. H R Agarwal & Mr. M K Vijay, as Directors of the Company.
5. Authority to the Board to create, offer, issue and allot upto 3,00,000 Equity shares of nominal value of Rs 10 each, on a preferential basis ("Shares") to such companies, promoters, persons of management group, their respective friends, relatives, and associates (“Allottees”) as the Board may decide in its absolute discretion, at a price of Rs 67/- per share (“Consideration”) which includes a premium of Rs 57/- per share calculated in accordance with the Guidelines for preferential allotment of equity shares and on such terms and conditions as may be decided and deemed appropriate by the Board at the time of issue or allotment, subject to necessary provisions & approvals.
6. Appointment and terms of remuneration of Mr. Arup Kumar Banerjee, as Managing Director for a period of three years with effect from July 30, 2008, on terms & conditions. |
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