(Pursuant to Section 173 (2) of the Companies Act, 1956)
Item No. 5 & 6
Pursuant to the provisions of Section 262 of the Companies Act, 1956 and Article 34 ofArticles of Association of the Company; the casual vacancy in the office of Whole-TimeDirector caused by the resignation of Mr. G Rama Raju has been filled by the appointmentof Mr. G. Sandeep who shall hold office upto the tenure Mr. G Rama Raju should have heldoffice had it not been vacated. All the terms of appointment of Mr. G Rama Raju will beapplicable to the appointment of Mr. G. Sandeep.
After taking into account the substantial growth and improvement in the operations andfinancial position of the Company and the prevailing remuneration packages in otherCompanies, the Board,on the recommendation of the Remuneration Committee at its meetingheld on 8th day of August, 2013,decided to revise the terms of his appointment andremuneration as set out in the resolution No.6 with effect from 1st October, 2013.
The above resolutions together with this Explanatory Statement constitute abstract ofterms of the remuneration and the Memorandum of Interest of the Whole-time Director underSection 302 of the Companies Act, 1956.
None of the Directors, except Mr. G. Ganesh Kumar, Chairman & Managing Director andMr. G. Sandeep, Whole Time Director are interested or concerned in the Resolution.
Your Directors recommends the Ordinary Resolution as set out in Item No. 5 of thenotice for your approval.
| ||By Order of the Board of Directors |
| ||For Tyche Industries Limited |
| ||Sd/- |
| ||G. Ganesh Kumar |
| ||Chairman & Managing Director |
|Place: Hyderabad || |
|Date: 8th August,2013 || |
|Registered Office: || |
|H. No. C-21/A, Road No.9, || |
|Film Nagar, Jubilee Hills, || |
|Hyderabad - 500 096 || |