|
| Exchange Disseminated Time | Lumax Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 06, 2013,
inter-alia, has taken the following decisions:
1. Re-designated Mr. D. K. Jain as Non-Executive Chairman with a provision for a Company maintained Chairman’s Office and Payment of Commission to him w.e.f. August 06, 2013 subject to maximum 1% of the Net Profits of the Company.
2. Elevation of Mr. Deepak Jain as Managing Director and approval of the revised remuneration w.e.f. August 06, 2013 subject to maximum 5% of the Net Profit of the Company.
3. Stanley Electric Co., Ltd., Japan, the Financial and Technical collaborator has withdrawn nomination of Mr. Makio Natsusaka as Non-Executive Director from the Board of the Company. Consequent to withdrawal of his nomination, Mr. Makio Natsusaka resigned from the Board of the Company with immediate effect.
4. Stanley Electric Co., Ltd., Japan, has nominated Mr. Shigeki Muto as Non-Executive Director of the Company. |
|
|