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| Exchange Received Time 29/05/2017 19:11:16 Exchange Disseminated Time 29/05/2017 19:11:21 Time Taken 00:00:05 | Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors of the Company at its meeting held today i.e. 29th May, 2017; inter-alia considered the following businesses:
1. Approved the Standalone Audited Financial Results of the Company for the quarter and year ended 31st March, 2017.
2. Approved the Consolidated Audited Financial Results of the Company for the year ended 31st March, 2017.
3. Recommended the payment of dividend on Equity shares @ Re. 0.80 (Eighty Paise only) per share i.e. 8% of the paid up Equity Share capital of Company for the year ended 31st March, 2017, subject to the approval of the shareholders in the ensuing Annual General Meeting of the Company. The dividend, if approved at the Annual General Meeting of the Company, shall be paid/ dispatched between September 18, 2017 to September 20, 2017.
4. Recommended the appointment of M/s. R. A. Kuvadia & Co., Chartered Accountants (having FRN: 105487W) as Statutory Auditors of the Company in place of retiring auditors under Section 139(2) of the Companies Act, 2013 at the ensuing Annual General Meeting by the members, to hold office for a period of 5 consecutive years i.e. with effect from the conclusion of ensuing Annual General Meeting till the conclusion of the Annual General Meeting to be held for the financial year ending 31st March, 2022, subject to ratification at every Annual General Meeting held thereafter.
They possess a vast experience of 27 years in the field of accountancy, tax, audit and related fields.
5. Re-appointed Dr. Shiv Nath Sahai as Whole Time Director of the Company for a further period of one year from 1st October, 2017 to 30th September, 2018, subject to the approval of shareholders in the ensuing Annual General Meeting of the Company.
Dr. Shiv Nath Sahai is Ph.D. in Technology process, having more than 35 years of experience in marketing and Techno commercial areas. He is also Chief Financial Officer of the Company. He is associated with the Company for more than 2 decades.
A copy of the Standalone Audited Financials Results for quarter and year ended 31st March, 2017 and Consolidated Audited Financial Results for the year ended 31st March, 2017 along with the statement of Assets and Liabilities as on that date, Auditors' Reports and the declaration on Annual Audited Financial Results for the year ended 31st March, 2017 pursuant to the second proviso to the Regulation 33(3)(d) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 are enclosed herewith for your records.
The meeting of the Board of Directors commenced at 4.30 p.m. and concluded at 7.00 p.m.
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