Outcome of the Board Meeting held on 09 August 2014

Sub: Outcome of the Board Meeting held on 9 August 2014
Ref: Clause 41 and Clause 36 of the Listing Agreement, Scrip code 533339

The Board of Directors in its meeting held on 9 August 2014, inter alia, has considered and approved the following:-

1. Unaudited financial results for the first quarter ended 30 June 2014. A Copy of Unaudited Financial Results is placed on the website under Financial Results

2. Fixed Saturday, the 27 September 2014 as the date for holding 21st Annual General Meeting at the Registered Office of the Company

3. The Register of Members will be closed from 22 September 2014 to 27 September 2014 (both days inclusive) for the purpose of dividend and the forthcoming Annual General Meeting. The Dividend, if any, declared by the Members of the Company will be paid within 30 days of Annual General Meeting i.e. on or before 26 October 2014

4. Approved the reappointment and revision in remuneration of Mr Ashok Atluri, Chairman and Managing Director of the Company for a period of 5 years with effect from 1 November 2014, subject to the approval of Members of the Company by way of Ordinary Resolution

5. To seek Members approval through Postal Ballot as per the provisions of the Companies Act, 2013 and Rules made thereunder:

  • arrow  Sub-division of each equity share of Rs 10/- into 10 equity shares of Rs 1/- each fully paid-up
  • arrow  Amendment to Capital Clause of the Memorandum of Association of the Company
  • arrow  Alteration of Articles of Association of the Company
  • arrow  Authorizing Board of Directors to borrow money in excess of aggregate paid-up share capital and free reserves of the Company up to Rs 500 Crores (Rupees Five Hundred Crores Only), as per the provisions of Section 180(1)(c) of the Companies Act, 2013
  • arrow  Creation of Charge/ mortgage / Hypothecation on the assets of the Company under Section 180(1)(a) of the Companies Act, 2013