Tulsyan NEC - Outcome of AGM

• Security Code: 513629
• Company: TULSYAN

Tulsyan NEC Ltd has informed BSE that the members at the 61st Annual General Meeting (AGM) of the Company held on September 08, 2008, inter alia, have accorded to the following:

1. Adoption of the Audited Balance Sheet as at March 31, 2008 and the Profit and Loss Account for the year ended on that date together with the Directors and Auditors’ Report thereon.

2. Declaration of Dividend of 20% payable to the equity shareholders of the Company.

3. Re-appointment of Mr. S Soundararajan & Mr. P T Rangamani, Directors of the Company liable to retire by rotation.

4. Re-appointment of M/s. C A Patel & Patel, Chartered Accountants, Chennai as Auditors of the Company to hold office from the conclusion of this meeting until the conclusion of the next Annual General Meeting of the Company on remuneration, terms & conditions.

5. Increase in the remuneration to Mr. Sanjay Tulsyan, Managing Director of the Company with effect from April 01, 2008.

6. Increase in the remuneration to Mr. Sanjay Agarwalla, Whole Time Director of the Company with effect from April 01, 2008.

7. Increase in the remuneration to Mr. Lalit Kumar Tulsyan, Executive Chairman of the Company with effect from April 01, 2008.

8. Incentive to Mr. A P Venkateshwaran, Whole Time Director of the company for the financial year 2007-2008.

9. Appointment of Shri. C Ramachandran, as Director of the Company.

10. Increase in the remuneration to Mr. A P Venkateshwaran, Whole Time Director of the Company with effect from April 01, 2008.

11. Incentive to Mr. Sanjay Agarwalla, Whole Time Director of the company for the financial year 2007-2008.

12. Authority to the Board to create, offer, issue and allot in one or more tranches to select group of persons shares in such manner as the Board in its sole discretion may at any time or times hereinafter decide, provided that the total issue size, whether issued in a single tranche or multiple tranches does not exceed in total 10,00,000 equity shares or equivalent to 10,00,000 equity shares, subject to necessary provisions & approvals.