The meeting of Board of Directors of the Company held to-day, 9th September, 2017 following business were transacted.

  1. A Committee of Whole-time Directors, Messers Shishir Kumar Bajoria, Pradeep Bajoria and Kamal Sarda of the Company was constituted for issue and allotment of Company’s equity shares in the ratio of 1:1, pursuant to an Order passed by the Hon’ble National Company Law Tribunal, Kolkata bench on 3rd August, 2017 thereby sanctioned merger of IFGL Refractories Ltd with the Company, to shareholders eligible of IFGL Refractories Ltd on the Record Date i.e  15th September, 2017 and to deal with all matters incidental and ancillary therewith. 
  2. Based on the recommendation of the Nomination and Remuneration Committee and subject to approval and or permission as may be necessary including approval by Special Resolution of the shareholders at ensuing Annual General Meeting of the Company, existing appointment of Director & Chief Executive Officer and Chief Financial Officer, Mr. Kamal Sarda was rescinded on and from 1st October, 2017 and effective that date new appointment given to him for a period of 3 (three) years ending on 30th September, 2020 with remuneration within limit specified at Section II of Part II of Schedule V read with Section 197 of the Companies act, 2013.