Held on 26 May 2015
Khandelwal Extractions announced that the Board of Directors of the Company at its meeting held on 26 May 2015, inter alia, has approved / recommended the followings:-1. Recommended for re-appointment of M/s. P. L. Tandon & Co. Chartered Accountants, as the Statutory Auditor of the Company for the financial year 2015-16.
2. Ratified payment of 10% dividend on 5000, Cumulative Redeemable Preference Shares of 100/- each matured on 15 October 2014.
Due to loss during the year, dividend on Cumulative Redeemable Preference Shares for financial year 2014-15 has not been declared and kept in arrear. The dividend amounting to Rs. 32380/- (including Dividend Distribution Tax) paid on 10%, 5000 Cumulative Redeemable preference Shares of Rs. 100/- each on maturity date i.e 15 October 2014 for 01 April 2014 to 15 October 2014 out of past accumulated profits which is ratified.
3. Due to closure of U.P. Stock Exchange, the Company's Equity Shares stands automatically delisted. However, the Company's Equity Shares continues to be listed with BSE.
4. Approved and adopted Code of Procedures and Practices for Fair Disclosure pursuant to Regulation 8 & 9 of SEBI (Prohibition of Insider Trading) Regulations, 2015.
5. Board took on record the following:-
a. Declaration received from all the Directors on Form MPB-1 u/s. 184 (1) of Companies Act, 2013.
b. Declaration from all four Independent Directors u/s. 149 (6) of Companies Act, 2013.
c. Declaration received from all the Directors u/s. 164 (2) of Companies Act, 2013.
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