Central Provinces Railways Board of Directors Meeting: BSE Informed

Central Provinces Railways Company has appointed Mr. Shivanand R. Hemmady as Independent Director for a term of five years pursuant to section 149 of the Companies Act, 2013 & its schedule IV subject to approval of shareholders in the forthcoming Annual General Meeting

मुंबई Mumbai:  Central Provinces Railways Company Ltd has informed Bombay Stock Exchange that the Board of Directors of the Company at its meeting held on August 07, 2014, has approved the following:

  1. Appointed Mr. Shivanand R. Hemmady as Independent Director for a term of five years pursuant to section 149 of the Companies Act, 2013 & its schedule IV subject to approval of shareholders in the forthcoming Annual General Meeting.
  2. Appointed Mr. Arvind Kumar Gupta as an Independent Director for a term of five years pursuant to section 149 of the Companies Act, 2013 & its schedule IV subject to approval of shareholders in the forthcoming Annual General Meeting.
  3. Appointed Mr. Amitkumar Rander, as Whole Time Director in the capacity as Chairman and Chief Financial Officer as Whole time Key Managerial Personnel (KMP) of the Company subject to approval of shareholders in the forthcoming Annual General Meeting.
  4. Appointed Mr. Haresh Bhojwani, as the Additional Director and Whole time Director in the capacity as Managing Director arid Chief Executive Officer as Whole time Key Managerial Personnel (KMP) of the Company subject to approval of shareholders in the forthcoming Annual General Meeting.
  5. Decided to increase the borrowing limits (including the amounts already borrowed) of the Company and to create charge on the assets of the company upto Rs.5 (Five) Crores pursuant to provisions of Section 180 (1) (c) & section 180 (1) (a) of the Companies Act, 2013 subject to approval of shareholders in the forthcoming Annual General Meeting.
  6. Appointed M/s.D.S. Momaya & Co, as the Secretarial Auditor of the Company in terms of section 204 of the Companies Act 2013 for the FY 2014-15.
  7. Approved alteration of AOA by way of adoption of new set of AOA in terms of various provisions of New Companies Act 2013 subject to approval of shareholders in the forthcoming Annual General Meeting.
  8. The Board also approved following policies after recommendation from the Audit terms of provisions of Committee and Nomination and Remuneration Committee in Companies Act 2013:
  • Code of Conduct and Ethics
  • Insider Trading Policy
  • Nomination and Remuneration Policy
  • Policy on Independent Directors
  • Risk Management Policy
  • Policy on Related Party Transactions
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