The Board of Directors of the Company are pleased to recommend a dividend of Re. 1 /- (10%) per equity share for 2015-16 (Re. 1 in 2014-15) on 1,37,19,582 equity shares of Rs. 10 each. The Proposed dividend is subject to the approval of shareholders in the ensuing Annual General Meeting of the company.
The register of members and share transfer books of the company will remain closed from 21st July 2016 to 27th July 2016 (both days inclusive)
Since there was no unpaid/unclaimed Dividend declared and paid last year, the provisions of Section 125 of the Companies Act, 2013 do not apply.
The company proposes to transfer an amount of Rs. 200 lakhs to the General Reserves. An amount of Rs. 688 lakhs is proposed to be retained in the statement of Profit & Loss Account.
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