Amal Ltd 2016-17

17 I further report that during the audit period there were no instances of: i) Public issue| Right issue | Preferential issue of shares | issue of debentures | issue of sweat Equity ii) Redemption | Buy-back of securities iii) Major decisions taken by the Members in pursuance to Section 180 of the Act iv) Foreign Technical Collaborations I further report that (i) During the financial year, Mr P N Ogale, Managing Director resigned with effect from December 14, 2016. The Board of the Company has appointed Mr R Kumar as the Managing Director with effect from March 24, 2017 subject to the approval of the shareholders. (ii) The Central Government wide notification dated November 26, 2016 notified the SICK Industries Companies (special Provision) repeal at 2013 with effect from December 01, 2016. As a result the BIFR and the Appellate Authority for Industrial and Financial Reconstruction (AAIFR) got repealed, pursuant to the aforesaid our proceedings or Appeals of whatever nature pending before the BIFR | AAIFR got abated. Consequently draft merger scheme pending for approval of BIFR, got abated, in view of the same the Board of Directors in its meeting held on March 24, 2017 decided not to proceed with the Merger Scheme. For Nilesh A. Pradhan & Co Practicing Company Secretaries Nilesh A. Pradhan Proprietor Place: Mumbai FCS: 5445 Date: April 21, 2017 COP: 3659 Note: This report should be read with my letter which is annexed as Annexure III and forms an integral part of this report.