HIL LTD. - Outcome of Board Meeting
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| 21 Jul 2014 | |
| HIL Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 18, 2014, inter alia, decided to seek approval from the shareholders by way of special resolution through Postal Ballot process, subject to the approval of the Central Government, for waiver of recovery of excess remuneration of Rs. 116.90 lacs paid to Mr. Abhaya Shankar, Managing Director of the Company for the financial year 2013-14, which has exceeded the limits prescribed in Part II of Schedule XIII read with Section 198, 309 and other applicable provisions of the Companies Act, 1956.<br/><br/>In this regard the Board approved the following:<br/><br/>1. Appointed Ms. CS N. Vanitha of M/s. P. S. Rao and Associates, Practicing Company Secretaries, to scrutinize the Postal Ballot process in a fair and transparent manner.<br/><br/>2. Approved the calendar of events.<br/><br/>3. Approved the draft of postal ballot notice.<br/><br/>4. Authorized the Company Secretary of the Company to preside over the entire postal ballot process. | |
| View all announcements for HIL LTD. | Source: BSE India |
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