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| Exchange Disseminated Time | IFB Agro Industries Ltd has informed BSE that the members at the 29th Annual General Meeting (AGM) of the Company held on July 28, 2011, inter alia, have accorded to the following:
1. Adoption of the Audited Balance Sheet as on March 31, 2011 and Profit & Loss Accounts and the Cash Flow for the year ended on that date together with Auditors' Report and Directors' Report thereon.
2. Re-appointment of Mr. H R Agarwal & Mr. M K Vijay as Directors of the Company.
3. Re-appointed M/s Haribhakti & Co., Chartered Accountants of Kolkata as the Auditors of the Company from the conclusion of this Annual General Meeting upto the next Annual General Meeting of the Company, on remuneration, terms & conditions.
4. Re-appointment of Mr. Arup Kumar Banerjee as Managing Director for a period of three years with effect from July 30, 2011 on such terms and conditions.
5. Accorded to the payment of commission at a rate not exceeding one per cent of the net profit of the Company in any financial year for a period of five years commencing from the financial year 2011-12 to Directors who are neither Managing Directors nor in the whole-lime employment of the Company, subject to such limits as may be decided by the Board from time to time. |
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