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| Exchange Disseminated Time | B. L. Kashyap and Sons Ltd has informed BSE that the members at the 22nd Annual General Meeting (AGM) of the Company held on September 22, 2011 inter alia, have approved to the following:
1. Audited Balance sheet as at March 31, 2011, the Profit & Loss Account for the year ended on that date and Directors' and Auditors report.
2. Dividend of Re. 0.10/- i.e. @ 10% per equity share of the face value of Re 1/- each for the financial year ended March 31, 2011.
3. Re-appointment of Mr. H. N. Nanani & Mr. Vikram Kashyap, as Directors of the Company, liable to retire by rotation.
4. Re-appointment of M/s. Sood Brij & Associates, Chartered Accountants as Statutory Auditors of the Company to hold office from the conclusion of this meeting up to the conclusion of the next Annual General Meeting of the Company, on remuneration, terms & conditions.
5. Authority to the Board of Directors of the Company including Committee of the Board to issue, offer and allot securities by way of Preferential Allotment including Qualified Institutional Placement (QIP) Global Depositary Receipts (GDRs), American Depository Receipts (ADRs), Participatory Notes (PNs) and/or foreign currency convertible bonds and / or any other financial instruments (OFIs) convertible into or linked to Equity Shares etc. not exceeding Rupees 450 Crores, under Section 81 (1A) and other applicable provisions of the Companies Act, 1956.
6. Continuance of Mr. Sahil Kashyap, relative of Mr. Vikram Kashyap, Joint Managing Director of the Company, to hold Place of Profit in the Company, as General Manager (Operations) on such remuneration to be decided by the Board, subject to overall limit (all inclusive) of Rs. 5,00,000/- per month or Rs. 60,00,000/- per annum.
7. Continuance of Mrs. Seema Sondhi, relative of Mr. Vinod Kashyap, Mr. Vineet Kashyap & Mr. Vikram Kashyap, Directors of the Company, to hold Place of Profit in the Company, as Manager (Administration) on such remuneration to be decided by the Board, subject to overall limit (all inclusive) of Rs. 50,000/- per month or Rs. 6,00,000/- per annum.
8. Alteration in Articles of Association of the Company by inserting following Article as Article No, 5A after Article 5:
'The Company and/or the Board of Directors shall have power, subject to and in accordance with Sections 77A, 77AA, 77B and other applicable provisions of the Act or the corresponding provisions, rules, regulations and guidelines prescribed by the Government of India, the Securities and Exchange Board of India or any other authority, to purchase any of its own fully paid up share and securities or other specified securities whether or not they are redeemable and may make a payment out of its free reserves or securities premium account of the company or proceeds of any shares or other specified securities, provided that no buy back of any kind of shares or other specified securities shall be made out of the proceeds of an earlier issue of the same kind of shares or same kind of other specified securities or from such other sources as may be permitted by law on such terms, conditions and in such manner as may be prescribed by the law from time to time in respect of such purchase." |
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