Vijayeswari Textiles Ltd has informed that the members at the 53rd Annual General Meeting (AGM) of the Company held on August 17, 2007, inter alia, have accorded the following:
1. Adoption of the audited Balance Sheet as at March 31, 2007 and the profit and loss account for the period from April 01, 2006 to March 31, 2007 together with the Directors Report and the Auditors Report there on.
2. Declaration of dividend of Rs 1/- per share for the year ended March 31, 2007 on equity shares of the Company.
3. Re-appointment of Sri. N Balakrishnan, Sri. Durai Ramaswany & Capt. K V Narayanan, as Directors of the Company.
4. Re-appointment of M/s. Subbachar & Srinivasan, Chartered Accountants, Coimbatore, as Auditor of the Company to hold office from the conclusion of this Annual general meeting till the conclusion of the next Annual General Meeting of the Company, on remuneration, terms & conditions.
5. Re-appointment of Sri. A L Ramachandra (who is already a Managing Director of Lakshmi Apparels And Wovens Ltd), as Managing Director of the Company for the period of 5 years with effect from July 01, 2007, on remuneration terms & conditions.
6. Revision in the remuneration payable to Sri. K Rajagopal, Chairman & Managing Director of the Company for the remaining period of his tenure with effect from July 01, 2007 to October 25, 2009, on terms & conditions.
7. Revision in the remuneration payable to Smt. Jayanthi Ramachandra, Joint Managing Director of the Company for the remaining period of her tenure with effect from July 01, 2007 to September 12, 2010, on terms & conditions.