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| Exchange Disseminated Time | 3M India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 28, 2011, inter alia, has transacted the following;
1. The Board of Directors, subject to the approval of the shareholders by way of postal ballot in accordance with Sec 192A of the Companies Act 1956 read with the Companies (Passing of the Resolutions by Postal Ballot) Rules, 2001 have approved payment of remuneration by way of Commission to Independent Directors of the Company for five financial years commencing from the Financial Year April 01, 2011 under Section 309(4) and other applicable provisions, if any, of the Companies Act, 1956.
2. The Company will dispatch Notice of Postal Ballot along with the Postal Ballot Form and a self addressed reply envelope (for which postage will be paid by the Company) on August 09, 2011, to all Shareholders / Beneficial Owners whose names appeared as at the end of working hours on July 29, 2011 in the Register of Members / Beneficial Owners maintained by the Company / Depositories, being the cut off date also to determine the names of the Shareholders / Beneficial Owners who are entitled to vote.
4. Mr. G. Shanker Prasad, Practising Company Secretary has been appointed as the Scrutinizer for conducting the Postal Ballot in a fair and transparent manner.
5. The voting rights of Members shall be reckoned on September 09, 2011 which is the cut-off date. |
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