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| Exchange Disseminated Time | Dujodwala Products Ltd has informed BSE that the members at the 28th Annual General Meeting (AGM) of the Company held on September 17, 2010, inter alia, have accorded to the following:
1. Adoption of the audited Balance Sheet as at March 31, 2010 and the Profit and Loss Account for the year ended on that date together with the Reports of the Directors and Auditors thereon.
2. Declaration of dividend at the rate of 10% (i.e. Rs. 1/-) per Equity Share to the non-promoter Equity Shareholders of the Company for the financial year ended March 31, 2010.
3. Re-appointment of Shri. R K Shriya & Shri. Narendra Goenka as Directors of the Company, liable to retire by rotation.
4. Appointment of M/s. Sunderlal Desai & Kanodia, Chartered Accountants, Mumbai as Auditors of the Company to hold Office from the conclusion of this meeting until the conclusion of the next Annual General Meeting on such remuneration, terms & conditions.
5. Authority to the Board for borrowing from time to time any sum or sums of money (exclusive of interest) not exceeding at any time the sum of Rs. 1000 crores, (Rupees One Thousand crores) on such terms and conditions as the Board may deem fit, notwithstanding that the moneys to be borrowed together with the moneys already borrowed by the Company (apart from temporary loans obtained or to be obtained from the Company’s bankers in the ordinary course of business) may exceed the aggregate of the paid up capital of the Company and its free reserves, that is to say, reserves not set apart for any specific purpose, subject to necessary provisions & approvals.
6. Approved and recommend to the Board the alteration in the remuneration structure payable to Mr. Pannkaj Dujodwala, Managing Director of the Company with effect from February 01, 2010, on necessary terms & conditions.
7. Authority to the Board for granting remuneration to Mr. Shri Kamal Dujodwala, Chairman of the Company Rs. 2,00,000/- per month effective from June 01, 2010, with liberty to the Board of Directors to alter and vary the said remuneration in such form and manner or with such modifications as the Board may deem fit and agreed to by Shri. Kamal Dujodwala subject to approval of the shareholders in the Annual General Meeting of the Company required to be held in 2010 during the financial year, subject to necessary terms & conditions. |
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