Atul Ltd 2017-18

Atul Ltd | Annual Report 2017-18 Further, his proposed appointment is on the basis of the reports of his performance evaluation. Given the above, corroborated by the valuable contribution made by Mr Rangan since 2010, the Board is of the view that his continued association will be of immense benefit to the Company. Copy of the draft letter for appointment of Mr Rangan as an Independent Director setting out the terms and conditions will be available for inspection without any fee by the Members at the registered office of the Company during normal business hours on any working day. Mr Rangan does not hold by himself or together with his relatives two percent or more of the total voting power of the Company. Accordingly, the Board recommends the Resolution in Item number 08 in relation to appointment of Mr Rangan as an Independent Director for second term of 5 consecutive years for the approval by the Members as a Special Resolution. Memorandum of interest Except Mr Rangan, being an appointee, none of the Directors and Key Managerial Personnel of the Company and their relatives are concerned or interested, financially or otherwise, in the Resolution set out at Item number 08. Item number 09 Subject to the approval of theMembers, the Board of Directors appointedMr B SMehta, a Non- executive Director, as an Independent Director of the Company for a term of 5 consecutive years from June 01, 2018 to May 31, 2023. His brief résumé is as under: Name Mr B S Mehta Date of birth September 19, 1935 Brief résumé Mr B S Mehta is a Director of the Company since April 1992. He is a Member of the Audit Committee and the Investment Committee of the Board. Mr Mehta is a distinguished Chartered Accountant of India and Chief Mentor in Bansi S. Mehta & Co. since 2009. Mr Mehta was the President of Institute of the Chartered Accountants of India for the year 1981-82. Mr Mehta holds a graduate degree in commerce and is a Fellow Member of Institute of Chartered Accountants of India. Directorship in other companies Public companies Century Enka Ltd Gillette India Ltd Housing Development Finance Corporation Ltd Pidilite Industries Ltd Procter & Gamble Hygiene and Health Care Ltd Sasken Technologies Ltd Private companies ThyssenKrupp Industrial Solutions (India) Pvt Ltd Foreign companies Jumbo World Holdings Ltd (BVI) Membership in committees of other companies Chairman of Committees Pidilite Industries Ltd – Audit Committee Sasken Technologies Ltd – Audit Committee Member of Committees Century Enka Ltd – Audit Committee Century Enka Ltd – Corporate Social Responsibility Committee Century Enka Ltd – Nomination and Remuneration Committee Gillette India Ltd – Audit Committee Housing Development Finance Corporation Ltd – Audit Committee Housing Development Finance Corporation Ltd – Nomination and Remuneration Committee Procter & Gamble Hygiene and Health Care Ltd – Audit Committee Pidilite Industries Ltd – Nomination and Remuneration Committee Pidilite Industries Ltd – Risk Management Committee Relationship with other Directors None Number of shares held in the Company 162 Mr Mehta, being eligible in terms of Section 149 of the Companies Act, 2013 and other applicable provisions and offering himself for appointment, it is proposed to appoint him as an Independent Director for a term of 5 consecutive years from June 01, 2018 to May 31, 2023. A Notice has been received from a Member proposing Mr Mehta as a candidate for the office of Director of the Company.