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Atul Ltd | Annual Report 2013-14
In the opinion of the Board, Mr Datta fulfils the conditions specified in the Companies Act, 2013 and the Rules made thereunder
for his appointment as an Independent Director of the Company and he is independent of the Management. Copy of the
draft letter for appointment of Mr Datta 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 Datta does not hold by himself or together with his relatives two percent or more of the total voting power of the Company.
The Board considers that his continued association will be of immense benefit to the Company. Accordingly, the Board
recommends the Resolution in relation to appointment of Mr Datta as an Independent Director, for the approval by the Members.
Except Mr Datta, 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 No 06.
This Explanatory Statement may also be regarded as a disclosure under Clause 49 of the Listing Agreements with the Stock
Exchanges.
Item No 07
Mr G S Patel is an Independent Director of the Company. Mr Patel is also Chairman of the Stakeholders Relationship Committee,
a Member of the Audit Committee and a Member of the Nomination and Remuneration Committee of the Board of Directors
(Board).
Name
Mr G S Patel
Date of birth
November 16, 1923
Brief résumé
Mr G S Patel is a Director of the Company since August 10, 1983.
Mr Patel was the Chairman of Unit Trust of India. Previously he held directorships in 20
other companies in public and private sectors.
Mr Patel holds BSc (Economics) degree from London School of Economics, Bar-at-Law
degree from Lincoln’s Inn and MA (Economics) and LLB degrees from the University of
Mumbai.
Directorship in other companies
Nil
Membership in committees of other
companies
Nil
Number of shares held in the Company 1,100
Mr Patel is a Director whose period of office is liable to determination by retirement of Directors by rotation under the erstwhile
applicable provisions of the Companies Act, 1956. In terms of Section 149 and other applicable provisions of the Companies
Act, 2013, Mr Patel being eligible and offering himself for appointment, is proposed to be appointed as an Independent Director
for five consecutive years for a term up to March 31, 2019. A Notice has been received from a Member proposing Mr Patel as a
candidate for the office of Director of the Company.
In the opinion of the Board, Mr Patel fulfils the conditions specified in the Companies Act, 2013 and the Rules made thereunder
for his appointment as an Independent Director of the Company and he is independent of the Management. Copy of the draft
letter for appointment of Mr Patel as an Independent Director 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 Patel does not hold by himself or together with his relatives two percent or more of the total voting power of the Company.
The Board considers that his continued association will be of immense benefit to the Company. Accordingly, the Board
recommends the Resolution in relation to appointment of Mr Patel as an Independent Director, for the approval by the Members.
Except Mr Patel, 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 No. 07.
This Explanatory Statement may also be regarded as a disclosure under Clause 49 of the Listing Agreements with the Stock
Exchanges.