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| Exchange Received Time 03/11/2018 16:16:12 Exchange Disseminated Time 03/11/2018 16:16:21 Time Taken 00:00:09 | We wish to inform you that pursuant to Section 110 of the Companies Act, 2013 read with Rule 22 of the Companies (Management and Administration) Rules, 2014, the Company seek the approval of the Members by way of Postal Ballot for the following matter:
1. Waiver of recovery of excess remuneration paid to Mr. Jaspal Singh Bindra, Executive Chairman of the Company, during the period between April 21, 2016 and September 11, 2018 (both days Inclusive); and
2. Ratification/approval of remuneration paid/payable to Mr. Jaspal Singh Bindra, Executive chairman of the company for the period April 21, 2016 to April 20, 2019 in terms of members approval by postal ballot on June 10, 2016, but without central government approval.
The Board of Directors of the Company has appointed Mr. Umesh P Maskeri, Practicing Company Secretary, as a Scrutinizer for conducting the Postal Ballot process in fair and transparent manner.
The details of the Calendar of Events for the Postal Ballot (including e-voting) proposed to be conducted are attached.
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