The Board of Directors of the Company at its meeting held today has inter-alia:
A.Audited Results
The Board of Directors of the Company have considered and approved the Audited Consolidated and Standalone Financial Results of the Company for the Fourth quarter and Year ended 31st March 2019.
B.Appointment of Additional Directors
The Board of Directors appointed Ms. N. Sreemathi (DIN: 08328823) as Additional Director (Independent) and Mr. N. Sampath (DIN: 08449699) as Additional Director (Independent)
C.Appointment of New Committee Members and Chairpersons in Corporate Governance Committees
D.Resignation of Rangarajan Bashyam as Independent Director
E.Resignation of R. Ranganathan as Company Secretary
F.Acquisition of New Business
In consideration of the direction of long-term development, the Company, has executed a MOU with Menakart General Trading LLC, UAE for the acquisition of 55% eqshares on fully diluted bases, whereby the Menakart shall become a subsidiary of Calsoft.