At meeting held on 15 January 2015
Autolite (India) announced that the Board of Directors of the Company at its meeting held on 15 January 2015, has taken the following decisions:1. Approval of conversion of 5,55,000 warrants into 5,55,000 equity shares of Rs. 10/- each at a premium of Rs. 4/- per share upon receipt of balance 75% consideration out of 727,500 warrants balance for conversion out of total 1125000 warrants issued to the promoters on preferential basis on 16 October 2013.
2. Renew the appointment of Mahipal Gupta as Managing Director for a period of five years w.e.f. 01 January 2015 on revised remuneration.
3. Renew the appointment of Amit Mahipal Gupta as Whole-time Director for a period of five years w.e.f. 01 January 2015 on revised remuneration.
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