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| Exchange Disseminated Time | Zydus Wellness Ltd has informed BSE that the members at the 16th Annual General Meeting (AGM) of the Company held on July 16, 2010, inter alia, have accorded to the following:
1. Adoption of the Audited Balance Sheet as at March 31, 2010 and Profit and Loss Account of the Company for the year ended on that date and the Reports of the Auditors and Directors thereon.
2. Declaration of dividend of Rs. 3 (@ 30 %) per equity share, aggregating to Rs. 117,216,267/- on 39,072,089 equity shares of Rs. 10/- each fully paid-up.
3. Re-appointed Mr. Ganesh N. Nayak & Mr. Pankaj R. PAtel as Directors of the Company liable to retire by rotation.
4. Appointed M/s. Manubhai & Co., Chartered Accountants, Ahmedabad, as Statutory Auditors of the Company from the conclusion of this Annual General Meeting until the conclusion of the next Annual General Meeting, on a remuneration as may be decided by the Board of Directors of the Company.
5. Appointed Dr. Belle Monappa Hegde, Prof. Indiraben J. Parikh & Mr. Anand G. Deo as Directors of the Company liable to retire by rotation.
6. Accorded consent for the appointment of Mr. Anand G. Deo as Managing Director of the Company for a period of five years with effect from August 01, 2009 on a remuneration as may be decided by the Board of Directors within the overall limits of 5% of the net profits of the Company as calculated under the provisions of sections 349 and 350 of the Companies Act, 1956 in any financial year and on the terms and conditions, subject to necessary provisions and approvals.
7. Accorded consent for payment of sitting fees to each non-executive Directors (i.e. Directors other than Managing Director) of Rs. 20,000/- (Rupees Twenty Thousands only) for attending each meeting of the Board of Directors or Committee thereof, subject to necessary provisions and approvals.
8. To pay to and distributed as commission, amongst the Directors of the Company or some or any of them (other than Managing Director), a sum not exceeding one percent per annum of the net profits of the Company, subject to maximum of Rs. 10 mio. in aggregate calculated in accordance with the provisions of sections 198, 349 and 350 of the Act, in such amounts or proportions and in such manner and in all respects as may be decided by the Board of Directors and such payments shall be made in respect of the profits of the Company for each year for the period for five years commencing April 01, 2010, subject to necessary provisions and approvals. |
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