EXPLANATORY STATEMENT PURSUANT TO SECTION 102 OF THE COMPANIES ACT 2013
Item No. 4
The Board of Directors at its meeting held on 31st March 2015 appointed Mrs. KarabiSengupta as an Additional Director of the Company with effect from 31st March 2015 to holdoffice upto the date of the ensuing Annual General Meeting of the Company under Section161 of the Companies Act 2013.
In the opinion of the Board Mrs. Karabi Sengupta fulfils the conditions specified inthe Companies Act 2013 and rules made thereunder for appointment as Independent Directorof the Company and is independent of the management. Accordingly in compliance of Section149 and 152 read with Schedule IV and any other applicable provisions of the CompaniesAct 2013 Mrs. Karabi Sengupta being eligible and offering herself for appointment isproposed to be appointed as Independent Directors of the Company for a term of 5consecutive years from the date of her appointment. A Notice pursuant to Section 160 ofthe Companies Act 2013 with the required deposit has been received from a shareholdersignifying his intention to propose the appointment of Mrs. Karabi Sengupta as Director ofthe Company.
Copy of the letter of appointment of Mrs. Karabi Sengupta as Independent Director wouldbe available for inspection without any fee by the members at the Registered Office of theCompany during normal business hours on any working day excluding Saturday.
Your Directors seek your approval to the said resolution. Except Mrs. Karabi Senguptathe appointee herself and her relatives none of the Directors or key managerial personnelof the Company or their relatives are concerned or interested financially or otherwise inthe resolution.
| ||By Order of the Board |
|Place : Kolkata ||Payel Jain |
|Date : May 25 2015 ||Company Secretary |