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| Exchange Disseminated Time | Agro Tech Foods Ltd has informed BSE that the members at the 22nd Annual General Meeting (AGM) of the Company held on July 29, 2009, inter alia, have accorded to the following:
1. Approved and adopted the Balance Sheet of the Company as at March 31, 2009 and the Profit & Loss Account for the year ended on that date together with the Schedules and Notes thereon and the significant accounting policies and the Reports of the Board of Directors and the Auditors thereon.
2. Declaration of Dividend at the rate of 10%, i.e. Re 1 per Equity Share out of the current profits of the year on 24,369,264 equity shares fully paid up, for the financial year ended March 31, 2009.
3. Re-appointed Mr. Michael D Walter & Nihal Kaviratne, CBE, as Directors of the Company whose period of Office will be liable to determination by retirement of Directors by rotation.
4. Appointment of M/s BSR & Associates, Chartered Accountants as Auditors of the Company to hold office from the conclusion of this Meeting of the Company until the conclusion of Twenty Third Annual General Meeting, in place of Lovelock & Lewes, Chartered Accountants who have expressed their unwillingness to be reappointed as Auditors, and authority to the Board of Directors to fix their remuneration.
5. Appointment of Mr. Satish Lal Tandon & Dr. Pradip Ghosh Chaudhuri as Directors of the Company whose period of office shall be liable to determination by retirement of Directors by rotation.
6. Appointment of Dr. Pradip Ghosh Chaudhuri as a Whole-time Director of the Company, with effect from May 14, 2009 till July 30, 2010 or the date of the next Annual General Meeting, whichever is earlier, (both days inclusive) on remuneration, terms & conditions, subject to necessary provisions and approvals.
7. To pay commission annually to the Non-Executive Independent Directors of the Company, for a period not exceeding five years, for each of the financial years of the Company commending from April 01, 2009, not exceeding one per cent of the net profits of the Company, as provided under Section 309(4) of the Companies Act, 1956 ('the Act'), and computed in the manner referred to in Section 198(1) of the Act, or any amendment or modification thereof in addition to the fee for attending the Meetings of the Board of Directors of the Company or any Committee thereof, to be divided amongst the Directors aforesaid in such manner as the Board may from time to time determine and in default of such determination equally, provided that none of the Directors aforesaid shall receive individually commission exceeding Rs 2,50,000/- in a financial year, subject to necessary provisions and approvals. |
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