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| Exchange Disseminated Time | Nava Bharat Ventures Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 29, 2015, inter, has transacted the following:
1. Approved, subject to the approval of the shareholders, Nava Bharat General Employee Benefits Scheme, 2015 (“Scheme”), inter alia, to provide welfare benefits such as medical, housing and education related assistance to employees of the Company (“Employees”); and utilizing and applying the assets of existing trust settled by the Company called Nava Bharat Ventures Employee Welfare Trust (“Trust”) for the purposes of implementing Scheme in accordance with the Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014 (“Regulations”).
2. Approved to undertake such steps and actions to enable the Company and the Trust to conform to the Regulations in its entirety within the five year period as envisaged in the Regulations. |
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