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| Exchange Received Time 16/05/2018 13:27:04 Exchange Disseminated Time 16/05/2018 13:27:13 Time Taken 00:00:09 | Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Outcome of Board Meeting:
1. The Company has declared and paid an Interim Dividend at the rate of Rs. 8.00 per share (400%) on 94320370 Equity Shares of Rs. 2 each for Financial Year 2017-18. Having declared Interim Dividend, Your Board has not recommended a Final Dividend for Financial Year 2017-18.
2. Board has also approved the Technical Collaboration Agreement entered into by the company with EE Mill Solutions LLP, USA (EEMS).
The Company proposes to set up a dedicated plant for manufacturing the above products at an estimated capital outlay of Rs. 250.00 Crores.
3. Audit Committee and Board of Directors at their respective meetings held today, has appointed M/s. Talati & Talati, Chartered Accountants (FRN 110758W) as Internal Auditors of the Company for Financial Year 2018-19.
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