JVL AGRO INDUSTRIES LTD. - Outcome of Board Meeting
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| 26 Aug 2014 | |
| JVL Agro Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 25, 2014, inter alia, has transacted the following :<br/><br/>1. The Board approved re-designation of Mr. S.N. Jhunjhunwala, Managing Director as the Key Managerial Personnel of the Company.<br/><br/>2. The Board approved appointment of Mrs. Anju Jhunjhunwala as Additional Director of the Company.<br/><br/>3. The Board approved the appointment of Mr. R. C. Garg as the Chief Finance Officer of the Company.<br/><br/>4. The Board approved the appointment of Mr. Sudhir Saxena, Cost Auditor, Kanpur as the Cost Auditor of the Company for financial year 2014-15 at a remuneration of Rs. 50,000/- subject to ratification of the same in the ensuing Annual General Meeting by the members.<br/><br/>5. The Board decided to rename the existing "Remuneration Committee" of the Company as "Nomination and Remuneration Committee."<br/><br/>6. The Board decided to rename the existing "Shareholders/Investors Grievance Redressal Committee" of the Company as "Stakeholders Relationship Committee."<br/><br/>7. The Board reconstituted "Audit Committee". Mr. S.K. Dikshit, Chairman of the Committee retired from the Committee and at his place Mr. Mahesh Kedia was appointed as Chairman. Also, Mr. Harsh Agrawal has been appointed as the Member to the Committee. Accordingly, the revised constitution of Audit Committee includes Mr. Mahesh Kedia, Chairman, Mr.<br/>Kanhaiya Lal Goenka and Mr. Harsh Agrawal.<br/><br/>8. The Board approved the tabled draft of vigil mechanism with minor editings. This mechanism will further strengthen and make effective the working of the Audit Committee of the Board.<br/><br/>9. The Board constituted a CSR committee in terms of requirements of new Companies Act, 2013. The Committee shall comprise of Mr. Mahesh Kedia as Chairman, and Mr. S.N. Jhunjhunwala, Director and Mr. Adarsh Jhunjhunwala, Director as other members of the Committee. The Board also deliberated on the draft text for the proposed CSR Policy of the<br/>Company and approved the same.<br/><br/>10. The Board appointed Mr. Deepak Kumar Chopra as the Chief Executive Officer (Key Managerial Person) of the Company.<br/><br/>11. The Board appointed M/s Namita Ujwal and Associates, Practicing Company Secretary, Varanasi as the Secretarial Auditors of the Company.<br/><br/>12. The Board appointed M/s Mukul Shah and Associates as the Internal Auditors of the Company.<br/><br/>13. The Board approved the increase in its borrowing powers from existing Rs. 3000 crore excluding temporary loans and working capital facilities to Rs. 3500 crores excluding temporary loans and working capital facilities over and above the paid-up share capital and reserves and surplus of the Company subject to approval of shareholders in ensuing Annual General Meeting of the Company. | |
| View all announcements for JVL AGRO INDUSTRIES LTD. | Source: BSE India |
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