|
| Exchange Disseminated Time | Precision Pipes and Profiles Company Ltd has informed BSE that the members at the 15th Annual General Meeting (AGM) of the Company held on September 25, 2010, inter alia, have accorded to the following:
1. Adoption of Accounts: The directors report, the Auditors’ Report, the Audited Profit and Loss Account and the Audited Balance Sheet for the year ended March 31, 2010 was approved and adopted.
2. Payment of Dividend: The dividend on equity shares for the year ended on March 31, 2010 was approved at the rate of 30%of the face value of Rs. 10/- each, i.e. Rs.3.00 per share.
3. Re-appointment of Directors: Mr. S. K. Tuteja and Mr. Vinod Vaish who retired by rotation at the Annual General Meeting and being eligible for re-appointment, were re-appointed as Directors of the company.
4. Appointment of Statutory Auditors: M/s Dharam Taneja Associates, Chartered Accountants were re appointed as Statutory Auditors of the Company to hold office for the financial year 2010-11 on a remuneration to be agreed upon by and between the Board of Directors of the company and the Statutory Auditors.
5. Appointment of Directors: Mr. Ashok Kumar Agarwal and Mr. MS. Kapur were appointed as a directors of the company and they shall be liable to retire by rotation.
6. Increase in Remuneration:
(a) The remuneration of Mr. Ajay Kumariain, Managing Director of the company was increased w.e.f. November 01, 2010, for the rest of his term i.e. up to October 31, 2012.
(b) The remuneration of Mr. Rajeev Jain, Whole Time Director of the Company was increased w.e.f. November 01, 2010, for the rest of his term i.e. up to October 31, 2012.
(c) The remuneration of Mr. Abhishek Jain, Whole Time Director of the Company was increased w.e.f. November 01, 2010, for the rest of his term i.e. up to June 02, 2012.
7. Appointment of Executive Vice Chairman: Mr. Sharat Chand Jab was appointed as Executive Vice Chairman of the Company for a period of three years from August 06, 2010 to August 05, 2013, on remuneration. |
|
|