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| Exchange Disseminated Time | Vimta Labs Ltd has informed BSE that the members at the 19th Annual General Meeting (AGM) of the Company held on September 19, 2009, inter alia, have accorded to the following:
1. Adoption of the Audited Balance Sheet as on March 31, 2009 and Profit & Loss Account for the year ended March 31, 2009 together with Schedules thereto and Notes forming part of the accounts, Cash Flow Statement and Directors' Report, Auditors' Report thereon.
2. Re-appointment of Dr. Subba Rao Pavuluri & Prof. K. Ramachandran, as Directors, liable to retire by rotation.
3. Appointment of M/s. Sarathy & Balu, Chartered Accountants, Hyderabad, Auditors of the Company to hold office from the conclusion of this Meeting upto the conclusion of the next Annual General Meeting of the Company, on remuneration terms & conditions.
4. Resolved that in partial modification of the resolution passed in the Annual General Meeting held on May 25, 2005 relating to appointment and payment of remuneration to Dr. S P Vasireddi, Managing Director of the Company, approval be and is hereby given that in the event of loss or inadequacy of profits in any financial year during the balance period of his tenure of 2 years effective from April 01, 2008, payment of minimum remuneration as per Clause 'B' of Section II of Part II of Schedule XIII of the Companies Act, 1956 including any statutory modifications made thereto from time to time, on terms & conditions.
5. Resolved that in partial modification of the resolution passed in the Annual General Meeting held on May 25, 2005 relating to appointment and payment of remuneration to Mr V V Prasad, Executive Director of the company, approval be and is hereby given that in the event of loss or inadequacy of profits in any financial year during the balance period of his tenure of 2 years effective from April 01, 2008, payment of minimum remuneration as per Clause 'B' of Section II of Part II of Schedule XIII of the Companies Act, 1956 including any statutory modifications made thereto from time to time, on terms & conditions.
6. Resolved that in partial modification of the resolution passed in the Annual General Meeting held on May 25, 2005 relating to appointment and payment of remuneration to Mr V Harriman, Director - Technical of the company approval be and is hereby given that in the event of loss or inadequacy of profits in any financial year during the balance period of his tenure of 2 years effective from April 01, 2008, payment of minimum remuneration as per Clause 'B' of Section II of Part II of Schedule XIII of the Companies Act, 1956 including any statutory modifications made thereto from time to time, on terms & conditions.
7. Resolved that in partial modification of the resolution passed in the Annual General Meeting held on May 25, 2005 relating to appointment and payment of remuneration to Ms Harita Vasireddi, Director - Quality of the company approval be and is hereby given that in the event of loss of inadequacy of profits in any financial year during the balance period of her tenure of 2 years effective from April 01, 2008, payment of minimum remuneration as per Clause 'B' of Section II of Part II of Schedule XIII of the Companies Act, 1956 including any statutory modifications made thereto from time to time, on terms & conditions. |
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