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| Exchange Disseminated Time | Vinyl Chemicals (India) Ltd has informed BSE that the members at the 25th Annual General Meeting (AGM) of the Company held on July 28, 2011, inter alia, have accorded to the following:
1. Adoption of the audited Balance Sheet as at March 31, 2011, the Profit and Loss Account and Cash Flow Statement for the year ended on that date together with Directors’ Report and Auditors’ Report thereon.
2. Declaration of Dividend a total dividend of Re.0.50 per equity share of Re.1 each (including Silver Jubilee Special Dividend of Re.0.25 per share) on 1,83,37,111 Equity Shares of Re.1/- each absorbing Rs.91,68,556/- be and is hereby declared out of Current Year’s profit for the Financial Year ended March 31, 2011 .
3. Re-appointment of Shri. R M Gandhi & Shri. B K Parekh as Directors of the Company, liable to retire by rotation.
4. Re-appointment of M/s. D A Kothari & Co., Chartered Accountants, as the Statutory Auditors of the Company from the conclusion of this Annual General meeting till the conclusion of the next Annual General Meeting at such remuneration, terms & conditions.
5. Re-appointment of Shri. M B Parekh as the Managing Director of the Company for a further period of 5 years with effect from April 01, 2012, on remuneration, terms and conditions.
6. pursuant to the provisions of Section 309 and other applicable provisions, if any, of the Companies Act, 1956, a sum by way of commission not exceeding 1% percent per annum of the net profits of the company, calculated in accordance with the provisions of Section 198, 349 and 350 of the Companies Act, 1956 be paid to and distributed amongst the Directors of the Company or some or any of them (other than the Managing Director of the Company) in such amounts, subject to such ceiling /s and in such manner and in all respects as may be decided and directed by the Board of Directors and such payments shall be made in respect of the profits of the Company for each year for the period of five years commencing from April 01, 2012, subject to necessary provisions & approvals.
In this regard, the Company has submitted to BSE a copy of the Chairman Speech. (For more details kindly refer Corporate Announcements on www.bseindia.com). |
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