Held on 20 April 2015
Patels Airtemp (India) announced that the Board of Directors of the Company at its meeting held on 20 May 2015, inter alia, has approved the following items:1. The Board of Directors of the Company has recommended dividend @ Rs. 2.20 (i.e. 22%) per equity share of the face value of Rs.10 each for the Financial Year 2014 -15, subject to approval from the Shareholders at the 23rd Annual General Meeting.
2. The Board took the note of the various Disclosures received from the Directors of the Company.
3. The Board passed the resolution for change in designation of Narayanbhai G. Patel from Managing Director to Whole-time Director of the Company, subject to approval of the shareholders at the ensuing Annual General Meeting of the Company.
4. The Board passed the resolution for change in designation of Sanjiv N. Patel from Whole-time Director lo Managing Director, subject to approval of the shareholders at the ensuing Annual General Meeting of the Company.
5. The Board passed the resolution for change in designation of Prakash N. Patel from Whole-time Director to Managing Director, subject to approval of the shareholders at the ensuing Annual General Meeting of the Company.
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6. The Board of Directors of the Company has grant authority to Narayanbhai G. Patel, Chairman of the Company to sign the Directors' Report.
7. The Board took on note the annual performance evaluation of;
(i)The Board (ii) The Committee (ies) (iii)Individual Directors
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