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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.