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| Exchange Disseminated Time | Gangotri Textiles Ltd has informed BSE that the members at the 21st Annual General Meeting (AGM) of the Company held on September 08, 2010, inter alia, have accorded to the following:
1. Adoption of the Directors' Report, the Balance Sheet as March 31, 2010 and the Profit & Loss Account for the period ended March 31, 2010 and the Auditors Report thereon.
2. Appointed Sri.Ullas R Sanghvi as a Director of the company liable to retire by rotation.
3. Appointed M/S. Thakker & Sanghani, Chartered Accountants, Coimbatore as the Auditors of the Company to hold office as Auditors of the Company from the conclusion of this Annual General Meeting till the conclusion of the next Annual General Meeting on such a remuneration as may be determined by the Board of Directors in consultation with the said Auditors.
4. Payment of remuneration to the Managing Director of the company for the period from April 01, 2010 to March 31, 2012 as recommended by the Remuneration Committee, subject to necessary provisions and approvals.
5. Appointed Mr. Mayank Tibrewal, son of Mr. Manoj Kumar Tibrewal, Managing Director, as Manager-Operation on a revised remuneration, subject to approvals of the shareholders and Central Government and such other approvals as may be necessary for the time being in force and that he maybe entitled to all other allowances being provided to other Employees of the Company.
6. Authority to the Board of Directors of the Company to sell, lease, transfer and/or otherwise dispose off the Company's undertaking comprising of (1) Weaving & Processing Unit located at SIPCOT Industrial Growth Center, Perundurai, Erode District (Unit 8 ) and Ring Spinning Units situated at Pushpattur Village, Udamalpet Taluk, Dindigul District (Unit 4 & Unit 9 ) and / or other Units that may be found not viable or any part of its Assets & Liabilities as a going concern on such Terms & Conditions and in such form and in such manner as the Board of Directors of the Company may decide in the interest of the company with fill power and authority to the Board of Directors to do all such acts and things as may be necessary to implement this resolution. |
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