GMR Industries - Outcome of AGM
GMR Industries Ltd has informed BSE that the members at the 21st Annual General Meeting (AGM) of the Company held on September 25, 2007, inter alia, have accorded to the following:
1. Adoption of the Audited Balance Sheet as at March 31, 2007 and the Profit & Loss Account for the year ended on that date together with the Reports of the Directors, and Auditors thereon.
2. (a) Declaration of a tax free dividend of 8% on the paid-up preference share capital.
(b) Declaration of a tax free dividend of 15% on the paid-up equity share capital (i.e. Rs 1.50 per share on shares of Rs 10/- each) for the financial year 2006-07.
3. Re-appointment of Mr. A Sankara Rao, Mr. K Balasubramanian & Mr. Viswanath Prasad Singh as Directors of the Company.
4. Appointment of M/s. Price Water House Chartered Accountants, Hyderabad, as Auditors of the Company from the conclusion of this 21st Annual General Meeting till the conclusion of the next Annual General Meeting of the Company in place of M/s. S Venkatadri & Co., retiring Auditors, on remuneration, terms & conditions.
5. Appointment of Dr. V Raghunathan & Mr. S Sandilya, as Directors of the Company, liable to retire by rotation.
6. Appointment of Dr. V Raghunathan as Managing Director of the Company for a period of five years with effect from January 25, 2007, on remuneration, terms & conditions.
7. Consent accorded for the payment of revised remuneration to the Managing Director i.e. Mr. Narayana Rao, with effect from July 01, 2006 to January 24, 2007 (upto date of his tenure as the Managing Director of the Company).
1. Adoption of the Audited Balance Sheet as at March 31, 2007 and the Profit & Loss Account for the year ended on that date together with the Reports of the Directors, and Auditors thereon.
2. (a) Declaration of a tax free dividend of 8% on the paid-up preference share capital.
(b) Declaration of a tax free dividend of 15% on the paid-up equity share capital (i.e. Rs 1.50 per share on shares of Rs 10/- each) for the financial year 2006-07.
3. Re-appointment of Mr. A Sankara Rao, Mr. K Balasubramanian & Mr. Viswanath Prasad Singh as Directors of the Company.
4. Appointment of M/s. Price Water House Chartered Accountants, Hyderabad, as Auditors of the Company from the conclusion of this 21st Annual General Meeting till the conclusion of the next Annual General Meeting of the Company in place of M/s. S Venkatadri & Co., retiring Auditors, on remuneration, terms & conditions.
5. Appointment of Dr. V Raghunathan & Mr. S Sandilya, as Directors of the Company, liable to retire by rotation.
6. Appointment of Dr. V Raghunathan as Managing Director of the Company for a period of five years with effect from January 25, 2007, on remuneration, terms & conditions.
7. Consent accorded for the payment of revised remuneration to the Managing Director i.e. Mr. Narayana Rao, with effect from July 01, 2006 to January 24, 2007 (upto date of his tenure as the Managing Director of the Company).
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