DEN seeks shareholders’ nod to reappoint Sameer Manchanda as CMD for 3 years
MUMBAI: Cable TV and broadband company DEN Networks has sought shareholders approval to re-appoint Sameer Manchanda as the chairman and managing director (CMD) of the company for three years from 10 September 2018 to 9 September 2021.
The board of directors of the company has already approved the re-appointment of Sameer Manchanda as CMD subject to the approval of the shareholders.
The shareholders have to accord their approval through Postal Ballot in accordance with Section 110 of the Companies Act, 2013 read with rule 22 of the Companies (Management and Administration) Rules, 2014 and other applicable provisions, if any.
The company has also provided e-voting facility for its members to exercise their vote on the resolution proposed to be passed through postal ballot.
The last date for submitting the Postal Ballot Form completed in all respects in the enclosed self-addressed postage pre-paid envelope is 18 October. The result of the voting by postal ballot will be announced on 19 October at the registered office of the company.
Manchanda will be paid a gross salary of Rs. 3.25 crore per annum with 10% increment on yearly basis. This is the same remuneration which was approved by shareholders in AGM dated 29 September 2015.
The company said it is proposing the same remuneration for approval of shareholders without any change in terms and conditions.
The company has also sought shareholder approval to authorise the board to delegate all or any powers conferred herein, to any committee of directors, with power to further delegate such powers to any executives/officers of the company to do all such acts, deeds, matters and things as also to execute such documents, writings etc., as may be necessary in this regard.
Approval has also been sought to authorise any Director or the Chief Executive Officer or the Chief Financial Officer or the Company Secretary of the Company be to file necessary application(s), document(s), form(s), clarification(s), give representation(s), returns etc., and to do all such acts, matters, deeds, things as may be necessary or desirable to give effect to this resolution including filing of the resolution/application(s) with Registrar of Companies, NCT of Delhi and Haryana, Central Government and any other authority, if any, and to comply with all requirements in this regards.