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| Exchange Disseminated Time 16/11/2016 16:24:36 | | Omax Autos Ltd has informed BSE that a general notice (dated November 15, 2016) has been published by the Company to its Members, in the newspaper on November 16, 2016, regarding its intends to file an application with the Central Government (Ministry of Corporate Affairs) for seeking their approval under Section 197 of the Companies Act, 2013 read with Schedule V to the Act and other applicable provisions, if any, and the Rules made thereto, to pay the total managerial remuneration to its Directors exceeding 11% of the Net Profit of the Company for the financial year 2015-16. The Members, at their 33rd Annual General Meeting held on September 12, 2016, have already approved the same. |
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