Elder Healthcare today said it has received approval from shareholders for re-appointment of Anuj Saxena as its Managing Director for another five years.
The company's shareholders (rpt) shareholders, during the annual general meeting (AGM) held on August 18, 2010, have re -appointed Saxena for a further period of five years, with effect from December 30, 2010, Elder Healthcare said in a filing to the Bombay Stock Exchange (BSE).
Besides, the shareholders also gave their nod to increase the borrowing limit of the company to Rs 100 crore, it added.
Further, the members have re-appointed J Saxena and Joginder S Juneja as directors and also appointed B L Gupta and Urvashi Saxena as directors.
The company recently said it plans to expand into the skincare market by rolling out its own brand this fiscal. Through this strategy, it hopes to achieve a turnover of Rs 300 crore by 2013.
Shares of Elder Healthcare were trading at Rs 93 on the BSE in afternoon trade, up 0.92 per cent from the previous close.