Last checked at 22 Jul 2019 07:00
July 19, 2019
London Stock Exchange,
London
Dear Madam, Sir,
Re-appointment of Independent Directors
This has reference to the above captioned subject.
Ms. Mallika Srinivasan and Mr. O. P. Bhatt were appointed as Independent Directors of the Company by the Shareholders at the Annual General Meeting of the Company held on August 14, 2014. The appointment was for a period of 5 years, i.e., from August 14, 2014 through August 13, 2019.
The Board of Directors of the Company at its meeting held on April 25, 2019, based on the recommendation of the Nomination and Remuneration Committee, proposed to re-appointMs. Srinivasan and Mr. Bhatt as Independent Directors of Company, for a second term effective August 14, 2019, subject to Shareholder's approval at the 112th Annual General Meeting.
The Shareholders of the Company at the 112th Annual General Meeting of the Company held today, i.e., July 19, 2019, have approved the re-appointment of Ms. Mallika Srinivasan effective August 14, 2019 through May 20, 2022 and Mr. O. P. Bhatt effective August 14, 2019 through June 9, 2023.
Ms. Srinivasan and Mr. Bhatt meets the criteria of 'independence' under Section 149 of the Companies Act, 2013 and Regulation 16 of the Listing Regulations. Further, they have not been debarred from holding office of Director by virtue of any Order passed by the Securities and Exchange Board of India or any other such authority. Further, there are no inter-se relationship between Ms. Srinivasan, Mr. Bhatt and the other Members of the Board.
Brief profiles of Ms. Srinivasan and Mr. Bhatt forms part of the Notice of the 112th Annual General Meeting of the Company and the same was disseminated on June 22, 2019 to the Stock Exchanges where the securities of the Company are listed. The information is also available on our website www.tatasteel.com
This disclosure is being made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
This is for your information and records.