Amal Ltd 2013-14

25 Mr Singhal 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 any other applicable provisions of the Companies Act, 2013, Mr Singhal 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 Singhal as a candidate for the office of Director of the Company. In the opinion of the Board, Mr Singhal 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. A copy of the draft letter for appointment of Mr Singhal as an Independent Director setting out the terms and conditions would 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 Singhal 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 would be of immense benefit to the Company. Accordingly, the Board recommends the Resolution in relation to the appointment of Mr Singhal as an Independent Director, for the approval by the Members of the Company. Except Mr Singhal, 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 4. This Explanatory Statement may also be regarded as a disclosure under Clause 49 of the Listing Agreements with the Stock Exchanges. Item No 5 Mr Sujal Shah is an Independent Director of the Company. Mr Shah is also the Chairman of the Nomination and Remuneration Committee and a Member of the Audit Committee of the Board. Name Mr Sujal Shah Date of birth September 23, 1968 Brief résumé Mr Sujal Shah is a Director of the Company since September 24, 2010. Mr Shah is the founder partner of SSPA & Co, Chartered Accountants and heads the Corporate Consultancy practice of the firm specialising in the areas of Restructuring, Financial Due Diligence, Mergers & Acquisitions, Valuations etc. Mr Shah is a Fellow of Institute of Chartered Accountant of India. Directorship in other companies Public Companies: Bhishma Realty Ltd Capricon Realty Ltd Hindoostan Mills Ltd Hindoostan Technical Fabric Ltd Key Note Corporate Services Ltd Reliance Asset Reconstruction Co Ltd Reliance Media Works Ltd Rudolf Atul Chemicals Ltd