Held on 13 August 2015
Nicco Corporation announced that the Board of Directors of the Company at its meeting held on 13 August 2015, inter alia, has transacted the following business:1. Change in Company's Directorate
- The Board considered and approved the appointment and payment of remuneration to Kartick Kumar Chatterjee as Managing Director & CEO of the Company with effect from 01 October 2015 to fill up the vacancy created by the resignation of Swapan Kumar Mukherjee, Managing Director who shall hold office upto 30 September 2015.
- The Board noted the resignation of Sanjay Prakash Bansal from the Board of Directors of the Company with effect from 12 August 2015.
2. The Board considered and approved the proposal for issue of additional Equity Shares to Nicco Restructuring Employees' Trust Fund, subject to approval of Shareholders at the forthcoming AGM of the Company.
3. The Board considered and approved the proposal for modification of the Explanatory Statement of the Special Resolution passed in AGM held on 29 September 2014 relating to allotment of 50,00,000 Equity Shares of Rs. 2/- each to Nicco Restructuring Employees' Trust Fund, subject to approval of Shareholders at the forthcoming AGM of the Company.
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