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| Exchange Disseminated Time | SEL Manufacturing Company Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on November 29, 2011, inter alia, have approved the following:
1. Authority to Board of Directors of the Company pursuant to the provisions of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 to create, offer, issue and allot upto 1,20,00,000 Equity warrants convertible into equity shares on preferential basis to the Promoters of the Company as mentioned in the Resolution.
2. Pursuant to the provisions of Section 314, 314(1B) of the Companies Act, 1956 read with Directors' Relative (Office or Place of Profit) Rules, 2011, consent for the appointment of Mr. Arnav Saluja to hold and continue to hold an office or Place of Profit as Business Integration and Research Manager (or any other designation and roles which the Board/Committee of the Board may decide from time to time).
3. Authority to Board for payment of commission to the Non-Executive and Independent Directors of the Company (other than the Managing Director and/or Whole-Time Directors and Non-Independent Directors) to be determined by the Board of Directors within the limits prescribed in this regard.
4. Confirmed the increase in remuneration to Sh. Navneet Gupta and Sh. Vinod Kumar Goyal, Executive Director(s) of the Company. |
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