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Outcome of Board Meeting

Meghmani Organics Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 16, 2009, inter alia, has decided to seek the approval of the members of the Company for the following purposes:

  • For the re-appointment of Mr. Jayanti Patel as the Executive Chairman of the Company for a period of 5 years from April 01, 2009 and approval of terms of remuneration.
  • For the re-appointment of Mr. Ashish Soparkar and Mr. Natwarlal Patel as the Managing Directors of the Company for a period of 5 years from April 01, 2009 and approval of terms of remuneration.
  • For the re-appointment of Mr. Ramesh Patel and Mr. Anand Patel as the Executive Directors of the Company for a period of 5 years from April 01, 2009 and approval of terms of remuneration.
  • For the re-appointment of Mr. Ashvin Raythatha as the Executive Director (International Marketing) of the Company for a period of 1 years from April 01, 2009 and approval of terms of remuneration.
  • For authorizing the Board of Directors to mortgage and / or charge the present and/ or future properties of the Company, in such form and manner as the Board determines.
  • For authorizing the Board of Directors to commence the business as mentioned under Serial No. 7 and Serial No. 45 of the ‘Other Objects’ Clause of the Memorandum of Association.
  • For authorizing the Board of Directors to approve remuneration to Ms. Deval Soparkar to hold office or place of profit under Section 314(1)(b) of the Companies Act, 1956. Ms. Deval Soparkar is the daughter of Mr. Ashish Soparkar, Managing director of the Company.

The matters mentioned hereinabove are to be resolved by voting through the postal ballot process under section 192A of the Companies Act, 1956 read with the Companies (passing of resolution by Postal Ballot) Rules, 2001.

By Order of the Board
Kamlesh Dinkerray Mehta
Company Secreatry
17 March 2009