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| Exchange Disseminated Time | Indo Tech Transformers Ltd has informed BSE that the Board of Directors of the Company at its meeting held on June 18, 2007, inter alia, has considered the following:
1. Recommended a dividend of 45% i.e. Rs 4.50 per equity share.
2. Recommended the appointment of the Statutory Auditors of the Company, M/s. G Balu Associates.
3. Recommended the re-appointment of Mr. A P Muthuswami and Mr. P Velayudhan Pillai, directors retiring by rotation.
4. The Board reviewed the progress of the Power Transformer Project at Kancheepuram and expressed its satisfaction on the progress made till date.
5. The Board also approved a proposal to make loans / investments, give guarantees and subscribe / purchase securities in any other body corporate for an amount not exceeding Rs 450.00 million. |
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