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| Exchange Disseminated Time | Ponni Sugars (Erode) Ltd has informed BSE that the members at the 15th Annual General Meeting (AGM) of the Company held on July 15, 2011, inter alia, have accorded to the following:
1. Adoption of the Profit & Loss Account of the Company for the year ended March 31, 2011, the Balance Sheet as at that date, the Auditors' Report thereon and the Directors' Report.
2. Declared a dividend of Rs. 2 per Equity Share for the period ended March 31, 2011 on 8598418 Equity Shares of Rs. 10 each fully paid-up.
- The tax on dividend amounting to Rs. 28 lakhs be borne by the company.
3. Re-appointed Dr. L M Ramakrishnan & Mr. Bimal Poddar as Directors of the Company, liable to retire by rotation.
4. Re-appointed M/s Maharaj N. R. Suresh & Co, Chennai, as auditors of this Company to hold office from the conclusion of this meeting till the conclusion of the next Annual General Meeting on remuneration, terms & conditions.
5. To left unfilled, the vacancy caused by the retirement of Mr. S K Ramasamy who has opted not to seek re-election, for the present.
6. Appointment of Dr. Nanditha Krishna as a Director of the Company, liable to retire by rotation.
7. Re-appointment of Mr. N Ramanathan whose current term of office expired on March 31, 2011 as Managing Director of the Company for a period of three years from April 01, 2011 to March 31, 2014.
8. Accorded for payment of commission to non-executive directors out of the net profits of the Company, over and above the sifting fees, for a period of 3 years from April 01, 2011, on necessary terms & conditions.
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