Thursday, March 13, 2008

Permanent Magnets - Outcome Of AGM

Permanent Magnets Ltd has informed that the members at the 46th Annual General Meeting (AGM) of the Company held on December 29, 2007, inter alia, have accorded the following:

1. The first item of the notice regarding adoption of accounts of the Company (PML), the accounts of the Company could not be finalized as the order of the High Court is not yet received in relation to the scheme of amalgamation. Therefore the meeting will be adjourned after transacting other items mentioned in the notice, and the adoption of accounts will be taken in the adjourned meeting after the order of the court is received.

2. Re-appointment of M/s. Jayesh Sanghrajka & Co, Chartered Accountants, Mumbai, as Statutory Auditors of the Company, for the year 2007-2008 to hold office till the conclusion of next Annual General Meeting of the Company on remuneration, terms & conditions.

3. Re-appointment of Shri. Arun Binani as a Director of the Company, liable to retire by rotation.

4. Re-appointment of Shri. Shyam Sunder Taparia as the Managing Director of the Company, for a further period of five years commencing from March 01, 2007 on remuneration, terms & conditions.

5. Appointment of Shri. AnilKumar Taparia as a Director of the Company.

6. Appointment of Shri. Rajeev Mundra as a Director of the Company.

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