Everest Industries recommends 30% dividend

Everest Industries Ltd has announced that the members at the 73rd Annual General Meeting (AGM) of the Company held on July 26, 2006, inter alia, have accorded to the following:

1. Adoption of the Audited Profit & Loss Account for the Financial Year ended March 31, 2006 together with the report of the Auditor´s thereon and the Directors´ Report.

2. Declaration of dividend at the rate of 30% (Rs 3 per share) for the financial year ended March 31, 2006.

3. Appointment of Mr Mohanlal Bhandari, as Director of the Company.

4. Appointment of M/s Deloitte Haskins & Sells, Chartered Accountants, as Statutory Auditors of the Company to hold office from the conclusion of this Annual General Meeting till the conclusion of next Annual General Meeting of the Company, on remuneration, terms and conditions.

5. Payment of commission for a period of five years commencing from April 01, 2006, to the non executive Directors of the Company.

6. Appointment of Mr Aditya Vikram Somani & Mr Anil Singhvi, as Directors of the Company, liable to retire by rotation.

7. Re-appointment of Mr M L Gupta, as Managing Director of the Company, for a period of three years commencing from March 01, 2006 to February 28, 2009, on remuneration, terms & conditions.

8. Re-appointment of Mr Manish Sanghi, as Executive Director of the Company, for a period of five years commencing from July 08, 2006 to July 07, 2011, on remuneration, terms & conditions.

Source : Equity Bulls

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