Corporate Announcement
Security Code : 500241    Company : KIRLOSBROS    
 
Outcome of Board Meeting 
  Exchange Disseminated Time     
Kirloskar Brothers Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 18, 2016, have taken on record “Deed of Family Settlement” dated September 11, 2009, entered into between the promoter group shareholders of the Company and each of their family members.

The said arrangement, inter alia, deals with the ownership, control and management by the said promoter / promoter group members of the Kirloskar Group of Companies and consequent transfer of or dealing with the securities of the Companies mentioned therein. The arrangement provides for restriction on competition between the parties to the said deed. The Board decided to recognize the contents of the said Deed under the provisions of Section 58(2) of the Companies Act, 2013, to take into account the said terms in exercise of the powers vested in the Board while granting or refusing consent to any such proposal for acquisition, transfer or disposal of the securities of the Company by the said Promoters (Which includes their respective family members and also companies under the control of each of them; jointly or severally with others).
 

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