Chiarman Statements
ANNEXURETO NOTICE
EXPLANATORY STATEMENTS PURSUANTTO SECTION 173(2) OFTHE COMPANIES ACT, 1956
Item no.5
Mr. Vijay Kumar Bhandari was appointed as an Additional Director by the Board of
Directors w.e.f. 12th February , 2013 in accordance with the provisions of Section 260 of
the Companies Act, 1956 and according to which ,the above director holds office up to the
date of the ensuing Annual General Meeting.
The company has received valid notice and deposit as per section 257 of the Companies
Act 1956 proposing candidature of Mr. Vijay Kumar Bhandari for the office of Director.
Mr. Vijay Kumar Bhandari is a Fellow Member of Institute of Chartered Accountants of
India . He has vast experience in Banking Field and retired as General Manager of Central
Bank of India . He is also on the Board of various Companies of repute.
The Board feels that presence of Mr. Vijay Kumar Bhandari on the Board is desirable and
would be beneficial to the company and hence recommend this resolution for adoption.
None of the Directors, except Mr. Vijay Kumar Bhandari is concerned or interested in
this resolution.
The Board recommends this resolution to be passed as ordinary resolution.
Item No. 6
The present term of appointment of Mr. Ajit Jain as the Whole time Director of the
Company was expired on 31st January, 2013 . Accordingly the Board of Directors reappointed
Mr. Ajit Jain as the Whole Time Director of the Company w.e.f 1st February, 2013 for a
period of 3 years at its meeting held on 12th February, 2013 subject to approval of
members of the Company after taking into consideration the financial position of the
Company, trends in industries and Mr. Ajit Jain’s performance .
Mr. Ajit Jain is associated with the Parijat Group for the last 25 years in various
managerial capacities. He joined the Company in 2006 as COO and was appointed as the Whole
Time Director of the Company w.e.f. 1st February, 2010 for 3 years and has been
instrumental in effective functioning of the Company.
None of the Directors, except Mr. Ajit Jain is concerned or interested in this
resolution.
| The Board recommends this resolution to be passed as ordinary resolution |
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| Registered Office: |
For & on behalf of the Board |
| Parijat House, 1076, Dr. E. Moses Road, |
Abhinav Mathur |
| Worli, Mumbai- 400018 |
Company Secretary |
| Place : Mumbai |
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| Date : 29th May, 2013 |
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