Board of Hindusthan National Glass & Industries decides to enter petroleum coke business

At meeting held on 11 February 2015

Hindusthan National Glass & Industries announced that the Board of Directors of the Company at its meeting held on 11 February 2015, inter alia, has considered and approved the following:

1. To engage in the business of Petroleum Coke and approved the alternation of Memorandum of Association of the Company by inserting Clause 4A after Clause 4 in the Object Clause of the Memorandum of Association of the Company.

2. Approved waiver of excess remuneration paid to Sanjay Somany & Mukul Somany as Vice Chairman & Managing Director of the Company during the Financial Year 2013-14 & 2014-15.

3. Approved appointment of Rakesh Kumar Sharma as an Executive Director of the Company for a further period of two years w.e.f. 01 March 2015.

4. To conduct Postal Ballot for obtaining shareholder's approval for waiver of excess payment of managerial remuneration to the Vice Chairman & Managing Directors of the Company during the financial years 2013-14 & 2014-15.

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