TO SECTION 102(1) OF THE COMPANIES ACT2013
Item No -3
Mr.Naga Mohan Babu Mangalapurapu (DIN - 08013083) who was appointed as an AdditionalDirector of the company w.e.f. 8th February 2018 pursuant to the provisions of Section161 and other applicable provisions if any of the Companies Act 2013 holds office up tothe date of this Annual General Meeting of the company and is eligible for appointment. Interms of Section 160 of the Companies Act 2013 the company has received a notice inwriting along with a deposit of requisite amount from a Member signifying his intention topropose the candidature of Mr.Naga Mohan Babu Mangalapurapu for the office of Director.
The provisions of the Companies Act 2013 with respect to appointment and tenure of theindependent directors have come into effect. as per the said provisions the independentdirectors shall be appointed for not more than two terms of five years each and shall notbe liable to retire by rotation at every AGM.
In terms of Section 149 150 152 160 and other applicable provisions of the CompaniesAct 2013 Mr.Naga Mohan Babu Mangalapurapu being eligible offer himself for appointmentas Independent Director on the Board of the Company. In line with the requirements of theCompanies Act 2013 it is therefore proposed to appoint Mr.Naga Mohan Babu Mangalapurapuas Independent Director on the Board of the Company for a term upto five (5) consecutiveyears from 08.02.2018. A brief profile of proposed Independent Director including natureof their expertise is provided in the Annual Report
Notices have been received from Members proposing candidate of the above Director forthe office of Independent Director of the Company. In the opinion of the Board Mr.NagaMohan Babu Mangalapurapu fulfill the conditions specified in the Companies Act 2013 andthe Rules made there under for appointment as Independent Director of the Company. A copyof the draft Letter of Appointment for Independent Director setting out terms andconditions of their appointment is available for inspection at the Registered Office ofthe Company during business hours on any working day and is also available on the websiteof the Company.
None of the Directors or Key Managerial Personnel of the Company and their relativesother than Independent Directors for their respective appointment is concerned orinterested financially or otherwise in these Resolutions. The Board commends theOrdinary Resolution as set out at item no. 3 for approval of the Members
| ||By order of the Board |
| ||INNOCORP LIMITED |
| ||Sd/- |
|Place: Hyderabad ||Mr. Prasad V S S Garapati |
|Date: 14th August 2018 ||Chairman and Managing Director |
| ||DIN: - 00209436 |