| Titagarh Wagons Ltd has informed BSE that an Extra Ordinary General Meeting (EGM) of the Company will be held on March 15, 2010.
Titagarh Wagons Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on March 15, 2010, inter alia, have passed the special resolutions as in the Notice as follows:
(a) Resolution No. 1: Ratification of Utilization etc. of IPO Proceeds : Passed unanimously.
(b) Resolution No. 2: Ratification of remuneration of Wholetime/ Managing Director(s) : Passed unanimously.
(c) Resolution No. 3: Appointment and remuneration of a relative of Director(s) subject to approval of the Central Government : Passed with requisite majority.
(d) Resolution No. 4: Appointment and remuneration of a relative of Director(s) subject to approval of the Central Government : Passed with requisite majority.
(As Per BSE Announcement Website dated on 18.03.2010)
Titagarh Wagons Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on March 15, 2010, inter alia, have accorded to the following:
1. Noted, approved, confirmed and ratified with retrospective effect, utilization of the funds raised by Initial Public Offering (IPO) made vide Prospectus dated the March 31, 2008 (shareholders` approval under Section 81 (1A) of the Companies Act, 1956 obtained on the December 15, 2006 and the IPO having been made in accordance with the Securities and Exchange Board of India (DIP) Guidelines) in the manner and including the funds used in the various activities detailed under "Objects of the Issue" in the said Prospectus, whether for the purpose of each or any of (intra or inter se) such activities/projects or for strategic acquisition or general corporate purposes or otherwise vis a vis those appearing in the books of accounts of the Company and the time taken for implementation thereof notwithstanding the variations therein (including the revised dates of completion of the projects) and formats and/or contents of disclosures of such utilization either in the Audited Annual Accounts or Reports of Directors or Interim Financial Results or otherwise since receipt of such money(s), summarized picture whereof as at December 31, 2009 circulated among the members with this Notice and also placed before this meeting, the same having been reviewed & monitored by the Audit Committee, endorsed and approved by the Board of Directors (the Board) in accordance with all the applicable and enabling provisions of the Companies Act, 1956 (the Act) as in the best interest of the Company, as may be applicable under various provisions of the Act, SEBI Guidelines and/or under any other law/Rules.
2. Noted, approved, confirmed and ratified the entire remuneration whether by way of salary, perquisites and/or commission paid to Shri Umesh Chowdhary during the period from the July 01, 2002 to the June 30, 2007 and appearing in the Audited Accounts for the relative years and approved while adopting the Accounts in the respective Annual General Meetings held for the said years since his appointment as a Wholetime Director on the July 01, 2002 and re-designated as Managing Director of the Company from the October 01, 2002 till the June 30, 2007 as also placed before this meeting, notwithstanding the consents or approvals already obtained therefor, having been latterly approved on the February 11, 2010 by the Remuneration Committee and endorsed by the Board of Directors in accordance with the Sections 198, 269, 309, 310 and all other applicable and enabling provisions of the Companies Act, 1956.
3. Approved appointment and remuneration of Smt. Vinita Bajoria as Vice President (Commercial) of the Company, by way of Salary, Perquisites, Performance Linked Incentive and other allowances/benefits as may be applicable for a period of five years from the April 01, 2010.
4. Approved the appointment and remuneration of Shri Saket Kandoi as Deputy General Manager (Operations) of the Company, by way of Salary, Perquisites, Performance Linked Incentive and other allowances/benefits as may be applicable for a period of 5 (five) years commencing from the April 01, 2010.
(As Per BSE Announcement Dated on 01/04/2010) |