Bhuwalka Steel Industries Ltd has informed that the members at the 25th Annual General Meeting (AGM) of the Company held on September 29, 2007, inter alia, have accorded the following:
1. Adoption of the Audited statement of Accounts of the Company as at and for the year ended March 31, 2007 together with Directors and Auditors Report thereon.
2. Declaration of dividend @ 12.5% on Cumulative Redeemable Preference Shares.
3. Declaration of dividend @ 15% on equity shares and 10% for silver jubilee year.
4. Re-appointment of Dr. S K Gupta & Sri. Ajay Kumar Bhuwalka, as Directors of the Company.
5. The vacancy caused by resignation of Sri. Sanjay Kumar Bhuwania, the Director retiring by rotation, shall not be filled up at this meeting and may be filled up at appropriate time as may be considered fit and proper by the Board.
6. Re-appointment of M/s. P K Rungta & Co., Chartered Accountants, as Statutory Auditors of the Company to hold office from the conclusion of this Annual General Meeting till the conclusion of the next Annual General Meeting of the Company, on remuneration, terms & conditions.
7. Appointment of Sri. Ankit Bhuwalka as a Director of the Company, liable retire by rotation.
8. Appointment of Sri. Suresh Kumar Bhuwalka, as Managing Director of the Company for a period of 5 years w.e.f. April 01, 2007, on remuneration, terms & conditions.
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