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| Exchange Disseminated Time | With reference to earlier announcement regarding Outcome of 138th Annual General Meeting (AGM) of the Company held on August 05, 2010, the dividend on Equity Shares for the year ended March 31, 2010, was erroneously mentioned as "Re 0.90 instead of "Rs. 1.50".
The corrected Outcome of 138th Annual General Meting (AGM) held on August 05, 2010, is as under :
1. Adoption of the Company’s Audited Balance Sheet as at March 31, 2010 and Profit & Loss Account for the year ended on that date together with the Reports of the Directors and Auditors thereon.
2. Declaration of dividend of Re 0.50 on 1,000 preference shares of Rs 10/- each and Rs. 1.50 on 27,92,01,220 equity shares of Rs 2/- each for the year ended March 31, 2010.
3. Re-appointment of Mr. C. M. Hattangdi, Mr. Sudhindar Khanna & Lt. Gen. Deepak Summanwar, as Directors of the Company.
4. Re-appointment of the retiring Auditors, M/s. Haribhakti & Co., Chartered Accountants, as Auditors of the Company for the current year ending March 31, 2011 to hold office from the conclusion of this meeting until the conclusion of the next Annual General Meeting. on remuneration terms & conditions.
5. Revision in Salary of Mr. Rajeev A. Piramal in partial modification of the Resolution passed by the members of the Company at the 135th Annual General Meeting held on September 21, 2007 , the revision in Basic Salary of Mr. Rajeev A. Piramal to Rs. 12,50,000/- per month in the scale of Rs. 12,50,000/ to Rs. 22,00,000/- per month with effect from April 01, 2010 till the balance tenure of Mr. Rajeev A. Piramal, Executive Vice Chairman, who was appointed as the Executive Vice Chairman of the Company for a period of 5 (five) years with effect from October 26, 2005, subject to necessary provisions & approvals.
6. Re-appointment of Ms. Urvi A. Piramal as the Executive Chairperson of the Company for a further period of 5 (five) years with effect from December 12, 2010, not liable to retire by rotation, upon necessary terms and conditions including the payment of remuneration, perquisites and benefits.
7. Re-appointment of Mr. Rajeev A. Piramal as the Executive Vice Chairman for a period of 5 (five) years with effect from October 26, 2010, not liable to retire by rotation, upon the necessary terms and conditions including the payment of remuneration, perquisites and benefits.
8. Re-appointment of Mr. Mahesh S. Gupta as the Group Managing Director of the Company for a period of 5 (five) years with effect from October 26, 2010, not liable to retire by rotation, upon the necessary terms and conditions including the payment of remuneration, perquisites and benefits.
9. Re-appointment of Mr. Rajesh Jaggi as the Managing Director of the Company for a period of 5 (five) years with effect from October 26, 2010, not liable to retire by rotation, upon the terms and conditions including the payment of remuneration, perquisites and benefits.
10. Authority to Board to create, offer, issue and allot (including with provisions for reservation on firm and / or competitive basis, of such part of issue and for such categories of persons as may be permitted), in the course of one or more domestic / follow on / international offerings with or without Green Shoe Option, including by way of a Qualified Institutions Placement ("QIP") under the provisions of Chapter VIII of the SEBI Regulations, whether or not they are members of the Company, including but not limited to Domestic / Foreign Investors / Institutional Investors / Foreign Institutional Investors / Qualified Institutional Buyers ("QIBs") as defined under the SEBI Regulations, Members, Employees, Non-Resident Indians, Companies or Bodies Corporate whether incorporated in India or abroad, Trusts, Mutual Funds, Banks, Financial Institutions, Insurance Companies, Pension Funds, Individuals, otherwise, whether by way of a public offering and / or by way of a private placement and / or whether by way of circulation of an offering circular and / or placement document or otherwise, securities including equity shares and / or instruments or securities convertible into equity shares of the Company including but not limited to Global Depository Receipts ("GDRs"). and / or American Depository Receipts ("ADRs") and / or convertible preference shares and / or convertible debentures or bonds (compulsorily and / or optionally, fully and / or partly), and / or non-convertible debentures with warrants and / or securities with or without detachable / non-detachable warrants and / or warrants with a right exercisable by the warrant holder to subscribe for equity shares, or by any one or more or a combination of the above model / methods or otherwise (hereinafter referred to as "Securities"), secured or unsecured, whether to be listed on any of the Stock Exchanges within India or any International Stock Exchange outside India, as the Board may at any time or times hereafter decide, upto an extent of Rs. 750 crores (Rupees Seven Hundred and Fifty Crores only) or issue of 6 crores equity shares of Rs. 2/- each and inclusive of such premium from time to time, such issue and allotment to be made at such time or times denominated in one or more currencies, at such price or prices in such manner and on such terms and conditions, subject to necessary provisions & approvals. |
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