Mr. Jagmeet Singh Sabharwal (DIN: 00270607) was appointed as Managing Director of the
Company in 30th Annual General Meeting held on 22nd September, 2017 (Adjourned on 29th
September, 2017) for the period of three years w.e.f. 18th August, 2017 to 17th August,
2020, liable to retire by rotation with no remuneration for the financial year 2017-18.
Currently, the Company is performing better than its previous financial years, but
considering fund requirements for management of day to day expenses, business operations
and fulfillment of working capital of the Company and after having detailed discussion
with Mr. Jagmeet Singh Sabharwal, the nomination and remuneration committee of the Company
has recommended and subsequently the Board of Directors has approved and proposed that No
remuneration shall be paid to Mr. Jagmeet Singh Sabharwal, Chairman & Managing
Director of the Company for the financial year 2018-19 and 2019-2020.
In terms of pursuant to provisions of Section 196, 197, 198 and read with Schedule V to
the extent applicable and all other applicable provisions along with rules made there
under, if any, of the Companies Act, 2013 (including any statutory modification or
re-enactment thereof for the time being in force), the proposed modification in
remuneration requires approval of members of the Company in form of Special Resolution.
Hence, the members are requested to pass the Special Resolution accordingly.
Except Mr. Jagmeet Singh Sabharwal, none of the Directors and/or Key Managerial
Personnel or their relatives, are interested or concerned in the resolution.
The Board recommends the Special Resolution set out at Item No. 3 of the accompanying
Notice in the interests of the Company.
|
By Order of the Board of Directors |
|
United Van Der Horst Limited |
|
SD/- |
|
Jagmeet Singh Sabharwal |
|
Chairman & Managing Director |
|
DIN: 00270607 |
| Date : 14/08/2018 |
Address: C/O - E.29/30, MIDC, Taloja, |
| Place: Mumbai |
Navi Mumbai - 410208 |