Kothari Products - Outcome Of AGM

Kothari Products Ltd has informed that the members at the 23rd Annual General Meeting (AGM) of the Company held on September 21, 2007, inter alia, have accorded to the following:

1. Adoption of the Audited Balance Sheet of the Company as at March 31, 2007 and the Profit & Loss Account and Cash Flow Statement, for the year ended on that date together with the Directors and the Auditors Reports thereon.

2. Declaration of Dividend @ 90% on the paid up Equity Share Capital of the Company.

3. Re-appointment of Dr. Avinash Gupta & Sri. Pramod Kumar Tandon as Directors of the Company, liable to retire by rotation.

4. Re-appointment of M/s. Mehrotra & Mehrotra, Chartered Accountants, as Auditors of the Company to hold office from the conclusion of this meeting till the conclusion of the next Annual General Meeting of the Company, on remuneration, terms & conditions.

5. Re-appointment of Sri. M M Kothari, Chairman (Executive), for a period of one year w.e.f. October 01, 2007, who will be liable to retire by rotation, on remuneration, terms & conditions.

6. Re-appointment of Sri. Mithesh Kothari, Executive Director (Production), for a period of one year w.e.f. October 01, 2007, who will be liable to retire by rotation, on remuneration, terms & conditions.

7. Accorded to the commencement of the businesses by the Company as given in sub-clause nos. 20 & 21 of clause C of the Memorandum of Association of the Company namely:

To carry on all or any of the business of Constructional engineers, architects, builders, contractors, decorators, electricians, wood workers and paviours & to acquire, develop, buy, sell real estate, multistoried or other buildings and group housing scheme