Maan Aluminium publishes outcome of board meeting

Maan Aluminium announced that the Board of Directors of the Company at its meeting held on 30 May 2014, had passed the following resolutions:

1. Approved the appointment of Ankur Jain, Sachit Jain, Shailesh Surendra Choksi and Kavish Shailesh Choksi as additional directors.

2. Noted the resignation of Rajendra Prasad Gupta from Directorship with effect from 24 February 2014.

3. The Audit Committee of the Company has been reconstituted with immediate effect as per the provision of section 177 of chapter XII of New Companies Act- 2013 and as per Clause 49 of the listing Agreement with Stock Exchanges and Abhinav Jain, Rajesh Jain, Sunil Jain and Ankur Jain, Directors of the Company were elected as a member of the committee.

4. The Shareholders & Investor Grievance Committee has been re-constituted in the name of Stakeholders Relationship Committee with immediate effect as per the provision of section 178 of chapter XII of New Companies Act-2013 and as per Clause 49 of the listing Agreement with Stock Exchanges and Abhinav Jain, Sunil Jain and Ankur Jain, Directors of the Company were elected as a member of the committee.

5. The Remuneration Committee has been re-constituted in the name of Nomination and Remuneration Committee with immediate effect as per the provision of section 178 of chapter XII of New Companies Act, 2013 and as per Clause 49 of the listing Agreement with Stock Exchanges and Abhinav Jain, Sunil Jain and Ankur Jain, Directors of the Company were elected as a member of the committee.

6. The board of directors of the Company in pursuant to the provision of section 203, 196, 197 of the Companies Act-2013, read with rules Companies (Appointed and Remuneration of Managerial Personnel) Rules, 2014 had confirmed that Mohinder Jain - Managing Director and Bijender Kumar Rithaliya - Chief Financial Officer and Company Secretary already appointed in the Company comes in the preview of said section and are Key Managerial Person of the Company.