| SPECIAL BUSINESS |
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| To consider and if thought fit, to pass with or without modification(s), the following resolutions as Special Resolutions: |
| 9. |
c) |
So long as Shri Jain functions as Whole-time Director of the Company, he will not be subject to retirement by
rotation and shall not be paid any fees for attending the meetings of the Board or any Committee thereof.
However, Shri Jain may get the sitting fees paid/payable to other Directors for attending meeting of Board of
Directors/Committee of subsidiary (ies), if any, or Companies promoted by the B.K. Birla Group. |
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d) |
Since Shri Jain also being Managing Director at Mangalam Cement Ltd. (MCL), [a profit making Company]
and his remuneration of Rs 60,000 as basic pay and Rs. 2,40,750 as Special Allowance per month with an annual
increase of 7% every financial year in Special Allowance (excluding P.F. i.e. 12% on basic salary or any other rate
as amended from time to time, Super-annuation contribution of Rs.1 lac per annum and gratuity of 15 days
basic pay per year) and other amenities, etc. received from MCL in any financial year stated above shall be in
addition to the total remuneration to be received by him from the Company as stated above and shall be within
the overall limit prescribed from time to time under sections 198, 309 and the other applicable provisions of the
Companies Act, 1956, read with Schedule XIII of the said Act as may be for the time being, be in force, or
otherwise as may be permissible by law. |
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e) |
Even in the event of loss/inadequacy of profits during his tenure, the remuneration, including the perquisites
and other amenities as aforestated to Shri Jain will be paid as minimum remuneration subject to the approval of
the Central Government and/or compliance of the applicable requirement of Schedule XIII of the Companies
Act, 1956 as existing or as amended from time to time." |
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By Order of the Board
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Registered Office:
9/1, R. N. Mukherjee Road,
Kolkata -700 001
Dated, the 28th day of April, 2011 |
S. K. Patodia
Secretary
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