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| Exchange Disseminated Time | Tulsyan NEC Ltd has informed BSE that the members at the 60th Annual General Meeting (AGM) of the Company held on August 30, 2007, inter alia, have accorded the following:
1. Adoption of the Audited Balance Sheet as at March 31, 2007 and the Profit and Loss Account for the year ended on that date together with the Directors and Auditors’ Report thereon.
2. Declaration of Interim Dividend as Final Dividend.
3. Re-appointment of Mr. Ramakrishnan & Mr. V Kirubanandan as 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, 2007.
6. Authority to Board of Directors of the Company, for borrowing from time to time all such sums of money as they may deem requisite for the purpose of the business of the Company notwithstanding that moneys to be borrowed together with moneys already borrowed by the Company (apart from temporary loans obtained from the Company's Bankers in the Ordinary course of business) will exceed the aggregate of the paid-up capital of the Company and its free reserves, that is to say, reserves not set apart for any specific purpose, provided that the aggregate of the amounts so borrowed and to be borrowed and outstanding at any time (apart from temporary loans obtained from the Company’s Bankers in the ordinary course of business) shall not exceed Rs 500 Crores. |
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