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(b) Meetings of Management Committee
During the year under review, two meetings of the Committee
were held on 14th April, 2010 & 23rd November, 2010.
(c) Composition of the Management Committee and
Attendance of each Member at the Management
Committee meetings held during the year
The Management Committee comprises of the 3 executive
directors of the Company viz., Mr. P.K. Khurana, Mr. Puneet
Khurana and Mr. P.M. Samvatsar. Mr. P.K. Khurana is the Chairman
of the Committee. Both the meetings of the management
committee held during the year were attended by all the 3
members.
F. INVESTMENT COMMITTEE
(a) Terms of Reference
The Investment Committee has been authorized to invest and
disinvest the investible surplus funds of the Company and thereby
maximize the returns with minimum risks. The Committee has put
in place operating guidelines which facilitate efficient
management of EKC’s investible surplus.
(b) Composition of the Committee
Name
Designation in
Committee
Nature of Directorship
Mr. P.K. Khurana
Mr. Puneet
Khurana
Mr. Shailesh
Haribhakti
Mr. Krishen Dev
Chairman
Member
Member
Member
Promoter & Executive
Promoter & Executive
Independent &
Non – Executive
Independent &
Non – Executive
(c) Investment Sub Committee
The Investment Committee also has a Sub Committee called as
the Investment Sub Committee.
The Investment Sub Committee works under the superintendence
of the Investment Committee of the Board of Directors.
The Investment Sub Committee comprises of the 3 executive
directors of the Company viz., Mr. P.K. Khurana, Mr. Puneet
Khurana and Mr. P.M. Samvatsar. Mr. P.K. Khurana is the Chairman
of the Committee.
All important investment decisions have to be approved in
advance by any two members of the Investment Sub Committee.
Such approval may be obtained either at a meeting or by passing
of resolution by circulation.
During the year under review, one meeting of the Investment
Sub Committee was held on 19th April, 2010 which was attended
by all the 3 members.
2007 - 08
EVEREST KANTO CYLINDER LIMITED
4. GENERAL BODY MEETINGS
A. Annual General Meeting
Location, date and time of the Annual General Meetings held
during the preceding 3 years and the Special Resolutions
passed thereat are as follows:
Financial
Year
Date
and Time
Venue
Special
Resolutions
passed
2009 - 10 27
2008 - 09
th July,
2010
4.00 p.m.
28th 4
July,
2009
3.30 p.m.
th Floor Convention
Hall, Y.B. Chavan
Centre, General
Jagannath Bhosle
Marg, Nariman
Point, Mumbai -
400 021.
M.C. Ghia Hall,
Bhogilal
Hargovindas
Building, 2nd –
1. Further issue
of securities
2. Increase in
Floor, the limit of
18/20, K. Dubash Foreign
Marg, Mumbai - Institutional
400 001.
Investors
Holding in
the Company
30 th July,
2008
4:00 p.m.
Same as above
B. Postal Ballot
No special resolution was passed through Postal Ballot during
2010-11.
5. DISCLOSURES
A. Disclosures on materially significant related party
transactions that may have potential conflict with the
interests of the Company at large
None of the transactions with any of the related parties were in
conflict with the interest of the Company. Attention of Members is
drawn to the disclosures of transactions with the related parties
set out in Notes on Accounts - Schedule ‘U’, forming part of the
Annual Report.
The Company’s major related party transactions are generally
with its Subsidiaries and Associates. The related party transactions
are entered into based on considerations of various business
exigencies such as synergy in operations, Company’s long term
strategy for optimization of market share, profitability, legal
requirements, liquidity and capital resources of Subsidiaries and
Associates. All related party transactions are negotiated on arms
length basis and are intended to further the interests of the
Company.
The statement of transactions with the related parties, is duly
placed before the Audit Committee on a quarterly basis.
Report on Corporate Governance Annual Report 2010-11
18
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