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| Exchange Received Time 04/05/2017 16:05:08 Exchange Disseminated Time 04/05/2017 16:05:11 Time Taken 00:00:03 | | This is to inform you that pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 ('SEBI - LODR'), the Board of Directors of the Company at their meeting held today has inter-alia - 1. Considered and approved the Standalone and Consolidated Audited Financial Statements of the Company for the financial year ended March 31, 2017. 2. Approved enabling resolution for raising funds through issue of Non Convertible Debentures on a Private Placement basis, up to a limit of Rs.2000/- Cr, subject to the approval of the members at the ensuing AGM. In this regard, we are enclosing: i. The Audited financial results (standalone and consolidated) along with Auditors Report for the financial year ended March 31, 2017 as required under Regulation 33 of the SEBI - LODR; ii. Disclosure in accordance with Regulation 52 (4) of the SEBI - LODR. Further, In terms of the provisions of Section 139 of the Companies Act, 2013 and Rules made there under, the Company is required to mandatorily change the present Statutory Auditors of the Company i.e. M/s. Sharp and Tannan Associates at the ensuing Annual General Meeting ['AGM'] of the Company due to completion of their maximum permitted term under the said section. Accordingly, based on the proposal of the Audit Committee, the Board has considered and recommended for the approval of Shareholders at next AGM, the appointment of Deloitte Haskin & Sells LLP, Chartered Accountants (ICAI Firm's Registration No. 117366W/W-100018) as the Statutory Auditors of the Company for a period of 5 (five) consecutive years commencing from the conclusion of the 22nd Annual General Meeting of the Company schedule to be held in the year 2017 till the conclusion of the 27th AGM to be held in the year 2022, subject to the approval of shareholders of the Company. |
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