Outcome of the Board meeting held on May 23, 2019

The Board of Directors of the Company at its meeting held on  May 23, 2019, which commenced at 1.30 p.m. and concluded at 4.30 p.m., inter-alia, unanimously transacted the following business:

1. Approved the Standalone and Consolidated Audited Financial Results of the Company for the quarter and financial year ended March 31, 2019.
2. Recommended a Dividend of Re. 1/- (Rupee One Only) per equity share of Rs. 10/- each for the financial year ended March 31, 2019, subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM) of the Company. The dividend, if approved by the shareholders, will be paid on or after Friday, August 30, 2019.
3. Approved convening of the 19^th AGM of the Company on Thursday, August 29, 2019 at 10.15 a.m. at Walchand Hirachand Hall, Indian Merchants’ Chamber, LNM IMC Building, Churchgate, Mumbai 400 020.
4. Approved re-appointment of Mr. Anjan Malik (DIN: 01698542), who retires by rotation and being eligible, offers himself for re-appointment, subject to the approval of the shareholders.
5. Approved to fix up the book closure from Friday, August 23, 2019 to Thursday, August 29, 2019 (both days inclusive) for the purpose of the AGM and dividend.
6. Approved re-appointment of M/s. S.R. Batliboi & Associates LLP, Chartered Accountants, Mumbai (ICAI FRN: 101049W/E300004), for the second term of 5 (Five) consecutive years i.e. from conclusion of the 19^th Annual General Meeting up to the conclusion of the  24^th Annual General Meeting, subject to the approval of the shareholders.
7. Approved re-appointment of Mr. PD Mundhra (DIN: 00281165) as Whole-Time Director to be designated as Executive Director, for a period of 5 (Five) Years effective from April 1, 2020, subject to the approval of the shareholders.