In consonance with the provisions of Clause 31(d) of the Listing Agreement, we are submitting here below the points approved in the Annual General Meeting held today:

  • Adoption of the Profit & Loss Account for the year ended March 31, 2011, Balance Sheet as on that date along with the Reports of the Directors’ and Auditors’ thereon
  • Declaration of dividend of Rs.1.80/- per share for every Equity share of Rs.2/- each (i.e., @ 90% on Face value of 2/- per share)
  • Re-appointment of Mr.Y.V.Ramana Reddy as Director liable to retire by rotation
  • Re-Appointment of M/S. VDNR & Associates, Chartered Accountants, Hyderabad as the Statutory Auditors
  • Authorization granted to increase the borrowing limits of the Board from Rs.2,000 crores to Rs.3,000 crores
  • Authorization granted for issuance of ESOPs upto 5,00,000 options of Rs.2/- each
  • Re-appointment of Mr. G. Bala Reddy as Managing Director
  • Modification of terms of Remuneration payable to Mr. P. Kodanda Ramaiah as Director (Technical)
  • Authorization granted to Board for raising funds upto USD 120,000,000 (USD Twelve crores only)
  • Authorization granted to increase the FII holding limits

This is for your information and records.