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| Exchange Disseminated Time | Gandhimathi Appliances Ltd has informed BSE that the members at the 22nd Annual General Meeting (AGM) of the Company held on May 06, 2009, inter alia, have accorded the following:
1. Adoption of the Audited Balance Sheet as at December 31, 2008, the Profit and Loss Account for the period of eighteen months ended on that date and the Report of the Directors and Auditors of the Company.
2. Re-appointment of Mr. V M Lakshminarayan, Mr. M K Ganesan, Mr. V R Lakshiminarayan as Directors of the Company, liable to retire by rotation.
3. Re-appointment of M/s. Rudhrakumar Associates,, Chartered Accountant, Chennai, as Auditors of the Company from the conclusion of this Annual General Meeting until the conclusion of the next Annual General Meeting of the Company, on remuneration, terms & conditions.
4. Remuneration payble to Mr. V M L Karthikeyan, a relative of Messrs. V M Lakshminarayanan, Chairman, V M Balasubramaniam, Managing Director, V M Gangadharam, Executive Director and V M Kumaresan, Executive Director-Technical of the Company to hold Office or Place of Profit as Vice President — Marketing on remuneration, terms & conditions.
5. Remuneation payble to Ms. V M G Viswanathan, a relative of Messrs.V M Lakshminarayanan, Chairman, V M Balasubramaniam, Managing Director, V M Gangadharam, Executive Director and V M Kumaresan, Executive Director-Technical of the Company to hold Office or Place of Profit as General Manager — Materials Management on remuneration, terms & conditions.
6. Remuneration payble to Mr. V M L Senthilnathan, a relative of Messrs.V M Lakshminarayanan, Chairman, V M Balasubramaniam, Managing Director, V M Gangadharam, Executive Director and V M Kumaresan, Executive Director-Technical of the Company to hold Office or Place of Profit as General Manager - Technical on remuneration, terms & conditions.
7. Remuneration payble to Mr. V M L Ganesan, a relative of Messrs.V M Lakshminarayanan, Chairman, V M Balasubramaniam, Managing Director, V M Gangadharam, Executive Director and V M Kumaresan, Executive Director-Technical of the Company to hold Office or Place of Profit as Deputy General Manager - Marketing on remuneration, terms & conditions.
8. Remuneration payble to Mr. V M S Selvamuthukumaran, a relative of Messrs.V M Lakshminarayanan, Chairman, V M Balasubramaniam, Managing Director, V M Gangadharam, Executive Director and V M Kumaresan, Executive Director-Technical of the Company to hold Office or Place of Profit as Deputy General Manager - Marketing with retrospective effect from January 01, 2008 on remuneration, terms and conditions:
9. Remunearation payble to Mr. V M S Selvamuthukumaran, a relative of Messrs. V M Lakshminarayanan, Chairman, V M Balasubramaniam, Managing Director, V M Gangadharam, Executive Director and V M Kumaresan, Executive Director—Technical of the Company to hold Office or Place of Profit as Deputy General Manager — Marketing on remuneration, terms & conditions.
10. To borrow from time to time all such sums of monies as it may deem requisite for the purpose of business of the Company, notwithstanding that monies to borrow together with the monies already borrowed (apart from temporary loan obtained from bankers in the ordinary course of business) will exceed in the aggregate paid-up capital and free reserves, i.e, to say reserves not set apart for any specific purpose provided however, that the total amount upto which moneys may be borrowed by the Directors shall not exceed the sum of Rs 80 crores (Rupees Eighty crores only), subject to necessary terms & conditions. |
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