VA Tech Wabag Ltd has informed BSE that 16th Annual General Meeting (AGM) of the Company was held on July 15, 2011.
1. Adoption of the balance Sheet as at March 31, 2011 and the Profit and Loss Account for the year ended March 31, 2011, together with the reports of Director`s and Auditors` as laid before the
2. Declaration of dividend @ Rs.10.00 per share on 1,05,76,434 fully paid-up equity shares of Rs. 5/- each for the year ended March 31, 2011 subject to Companies (Transfer of Profits to Reserves) Rules, 1975 and all other applicable provisions of the Companies Act, 1956 aggregating to Rs. 12,33,30,475/- (Rupees Twelve Crores Thirty Three Lakhs Thirty Thousand Four Hundred and Seventy Five only) out of profits for the current year.
3. Re-appointment of Mr.Bhagwan Dass
Narang as a Director of the Company, liable to retire by rotation.
4. Re-appointment of Mr. Jaithirth Rao as a Director of the Company, liable to retire by rotation.
5. Re-appointment of Messrs. Walker Chandiok & Co., Chartered Accountants, Chennai, as Auditors of the Company to hold office from the conclusion this Annual General Meeting, until the conclusion of the next Annual General Meeting of the Company.
6. Appointment of Mr. Sumit Chandwani as a Director of the Company, liable to retire by rotation.
7. Pursuant to the previsions of sections 198, 309 and other applicable provisions of the Companies
Act, 1956, and Article 104 of the Articles of Association of the Company, such sum by way of commission, not exceeding in the aggregate 1% (one percent) per annum or such other percentage as may be specified by the Companies Act, 1956, from time to time in this regard, of Net Profits of the Company computed in the manner referred to in Section 309(5} of the Companies Act,1956 be paid for each of the five financial years of the Company commencing from 1st April , 2011, to those Directors of the Company, other than the Managing Director, Executive Director and Whole-Time Directors, and distributed amongst themselves
in such proportions as they may from time to time decide between themselves."
8. Re-appointment of Mr. Rajiv Mittal as the
Managing Director of the Company with effect from pt October 2010 and revision in remuneration payable to him with effect from April 01, 2011 for the remainder of his term of office i.e. upto September 30, 2015, on remuneration, terms &
9. To such conditions and modifications as may be prescribed or imposed while granting such approvals, consents, permissions and sanctions which may be agreed to by the Board of Directors of the Company (hereinafter referred to as lithe
Board" which term shall be deemed to include any Committee constituted or to be constituted by the Board as the (Remuneration/ Compensation Committee), the Employees` Stock Option Scheme 2010 ("ESOP 2010") the formulated prior to the
Initial Public Offering (IPO) of the Company by the Board of Directors/ Remuneration/ Compensation Committee (lithe Committee") pursuant to the authority of the Shareholders granted vide Resolutions passed at its Extra Ordinary General
Meeting held on July 19, 2010 be and is hereby ratified.
10. Memorandum and Articles of Association of the Company and subject to the approval (s), consent(s), permission(s) and sanction(s) as may be necessary from the concerned Statutory
Authority(ies), each Ordnary (Equity) Share of the Company having a face value of Rs. 5/- each fully paid-up be sub-divided into Ordinary (Equity) Shares of the face value of Rs. 2/- each fully paid-up.
11. Alteration of the Memorandum of Association of the Company.
(As Per BSE Annoncement Website Dated on 15/07/2011)
Va Tech Wabag Limited has informed the Exchange that the shareholders of the Company at the Annual General Meeting held on July 15, 2011 approved the sub-division of each equity share of the Company having a face value of Rs.5/- each fully paid-up to Rs.2/- each fully paid-up. Subsequently the sub committee of the Board of Directors of the Company at their meeting held on July 15, 2011 has fixed August 17, 2011 as the record date for the purpose of the above sub division of equity shares.
(As Per NSE Bulletin Dated on 18/07/2011)|