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Ashima Ltd Board/Management Information 2019
61349_rns_2019-05-25_d6f04572-f93d-4f58-9440-a84fcc8b3c1a.pdf
Board/Management Information
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Regd. Office : Texcellence Complex, Near Anupam Cinema, Khokhra, Ahmedabed - 380 021, ladia Phone : 91-7947777000 o Fax z 91-7*22773O61 r Enrail : tercellenc@adrirnain CIN No: t99999GJ I982P1C005253
25|l,, May,2O19
To,' BSE Limited Corporate Relationship Department, 25o Floor, PJ Towers, Dalal Street, Fort, Mumbai - 400001 SECURITY CODE NO. 514285
To,
Nationai Stock Exchange oflndia Ltd Exchange Plaza 5e Floor, Plot no. C/1, G Block, Bandra Kurla Complex, Bandra (East), Mumbai - 400051. SECURITY CODE NO. ASHIMASYN
Dear Sir,
- Sub 1. Outcome of the Board meeting held on Saturday, ZSth M ay,z}]rg. 2. Audited Financial Results of the company for tf,e quarter & year both ended on 31"r March,2019.
- Ref ; Regulation 30 read with Reg. 33 of SEBI (tisting Obligations and Disclosure Requirements ) Regulations, 2015 ("SEBr LODR Regulations")
we hereby inform you that the Board of Directors ofthe company at its meeting held today inter- alia transacted following businesses;
- Approval of Audited Financial Resurts of the company for the quarter and year both ended on 31st M arch,2019. 1
- Changes ln Directors 2
Disclosure required pursuant to Regulation 30 ofthe SEBI L0DR Regurations readwith paraA of Part A of schedule III to the said Regurations as ars6 as per SEBI Circular CIR/CFDICMD/4/20L5, dated 9tr, September, 2015, with regard to change in Di.;;;;, i;;""" herein under:-
(i) Resignation ofMr. Atulkumar Singh as a Director ofthe Company.
E Ert
The Board took note of tl:.r:s]gnaii^on-tendered by Mr. Atulkumar Singh, Independent , Director w.e.f. today i.e., 25th May, 20L9, on r..orrit of hi, personal ..iror, "riJ oifr.. commitments and he arso confirmed that he has no other materiar reason other-than those as mentioned for his resignation.
T x c E N c E
| SN. | Disclosure Requirement | Details |
|---|---|---|
| 1 | Detailed Reason for Change viz.appointment, resignation, removal,death or othervrrise; | Resignation due to personal reasons andother Commitments. |
| Mr. Atulkumar Sing}l IndependentDirector, has resigned w.e.f 25s May,2019 from the Board ofthe Company.The Director has confirmed that there areno material reasons for his resignation,other than those disclosed. | ||
| 2 | Date ofCessation | Resigned as Director w.e.f 25$ May,20L9 |
(ii) Appointment of Mr. Vipul Naik as an Additional Director
The Board of Directors ofthe company appointed Mr. vipul Naik as an Additional Director fNon-Executive & Non-lndependent). Based on the declaration received from Mr. vipul , Naik and in compliance with circular dated 20rr June, 2019 of BSE Ltd and National stock Exchange of lndia Limited, the Board has noted that he is not debarred from holding the office ofdirector pursuant to any SEBI order or any other such authority.
| SN | Disclosure Reuirement | Details |
|---|---|---|
| 1 | Reason for change viz. | r. Vipul Nai[ appointed as an Additional Director ofM |
| Appointment, resignation, | the company w.e.f.25t May,20L9. | |
| removal, death or | ||
| otherwise | ||
| 2 | a. Date ofappointment | 25t, May,2079 |
| b. Term ofappointmenq | He shall hold office upto the date of the next AnnualGeneral Meeting of the Company and hisappointment is recommended for shareholders,rovala | |
| 3 | Brief profile (in case ofappoinunentJ; | is a Science Graduate and hasMr. Vipul Naikcompleted post graduate Diploma in TextileChemistry from M.S. University, Vadodara. He hasstarted his career in 1990 from Mafatlal Fine Mills,Navsari as a trainee in R&D Departrnent and had anopportunity to closely work with a highlylcrowledgeable international technician from To-otalU.K. due to foreign collaboration of Mafatlal andTootal U.K. At Mafatlal, he has experience of about 6years related to export quality fabric specificationsand international market requirements. |
| He has an expertise in export quality fabricspecifications, international market requirementsand functional expertise of various departments of aTextile Mill such as from Grey fabric to Preparatory,Dyeing, Finishing and Finished fabric inspection &packaging as well as product development andCustomer service. He possesses an overall experienceof 27 years. | ||
|---|---|---|
| $\overline{4}$ | Disclosure of relationships between directors. | Mr. Vipul Naik is not related to any director of thecompany. |
(iii) Re-designation of Mrs. Koushlya Melwani, a Non- Independent Director and her appointment as an Independent Director.
The Board re-designated Mrs. Koushlya Melwani, a non-Independent Director and appointed her as an Independent Director appointed for a term of 5 (five) consecutive years commencing from 25th May, 2019 to 24th May, 2024, and recommended the same for shareholders' approval.
Based on the declaration received from Mrs. Koushlya Melwani and in compliance with circular dated 20th June, 2018 of BSE Ltd and National Stock Exchange of India Limited, the Board has noted that she is not debarred from holding the office of director pursuant to any SEBI order or any other such authority.
| SN | Disclosure Requirement | Details | |
|---|---|---|---|
| $\mathbf{1}$ | Reason for changeviz.Appointment, resignation,removal,deathorotherwise | Mrs. Koushlya Melwani, re-designated and appointedas an Independent Director of the company w.e.f. 25 thMay, 2019. | |
| $\mathbf{2}$ | a. Date of appointmentb. Term of appointment; | 25th May, 2019For a term of 5 (five) consecutive years commencingfrom 25 th May, 2019 to 24 th May, 2024 subject toapproval of Shareholders. | |
| 3 | Brief profile (in case ofappointment); | Mrs. Koushlya Melwani is a professionally qualifiedCost and Management Accountant from the Instituteof Cost Accountants of India and having 29 years' ofprofessional experience in the field of project finance,company law & cost accounting. | |
| $\overline{4}$ | Disclosure of relationshipsbetween directors. | Mrs. Koushlya Melwani is not related to any directorof the Company. |
(iv) Re-appointment ofDf. Bakul Dhorakia as an rndependent Director for second tefm
]ff ?ffJiJj,T::lilt:i.':.t,*r Dhorakia, as an rndeperdert Director rora second term thu ;,,; ?b;;-;.;ffi #ffi :nTf ncing from 2ea September, z o rs m J*.";r";l"a
Based on the declaration received from Dr. Bakul D ff t#i*#*;lf *myls#r,__[H:.".;,,+"tTiff ..,lTffi
| SN | Disc osureRe | ||
|---|---|---|---|
| 1 | u rementReason foi | Details | |
| change viz.Appointment, resignatior!death orremoval, | DrBakuDhoIakiare-appontedas anndependentrectoroftheDcompanve.f. 29d' september,201 9 | ||
| 23 | otherwisea. Date ofreappointmentb. Term ofappointmen!Briefprofile (in case ofappointment); | 29d'September,20l9Secondtermoffiveconsecutiveyearscommencing)from29thseptember,0ofthe19 subecttoapprovalmembers,notwithstandin8thethatfactheshalattainage of75 years,) Ionth 15u20dunngv,2l.hlsofsecondterm5 (nvelconsecutiveyears,bisuect tothofdisclosureeterequlsstificati onlnUthepIanatorystatementextobe annexedoftotheNoriceAnnuaGeneralMeeDrBakuHDhoakiaabouthasofyears50professlonaexperlncludenceng 33yearsatndianofnstituteManagement(IM)AhmedabadandalsoofrectorEx DIM.HeottheashairmanCthetiofNaonaBoardAccreditationrfoTechnlcalEducarionnndiafrom2005to2008In 2007Heas awardedPadmashribytheofGovernmentIdinofanreco8nrionhisdistin8ulshedservrceslnd otthefieeducatioItn 200Iandheas conferredthecovetedBharatAsmitaNarionaAwardbythee Ch efnorabHoce ofInusti | |
| 4 | ofrelatioDiscosurenships | dia.DrBakuH DhoIakia | |
| directorsbetween | s notreatedoftodirectoranytheCom |
- Pursuant to Regulation 30 and 33.ofthe sEBI LoDR Regulations, we encrose the following: 1. Audited Financial Results ofthe_company for the {uarter and year both ended March 31,2019
- ^ alongwith Auditors' Report by M/s. Muke;h M. shah & co., statutory Auditors of ttre company. 2. Statement ofAssets and Liabilities for the year ended on 31st Ma rch,2Ol9. 3' Declaration in respect ofunmodified opinion on the aforesaid Audited Financial Results
The meeting of Board of Directors commenced at 11.45 a.m. and concluded at 12:45 p.m.
You are requested to take the above on your records and bring this to the Notice ofall concerned.
Thanking you, Yours faithfully,
Aittfhhd A o (r\ o For d Secretary
Encl: As above