MTAR Technologies has informed that the Board of Directors of the Company at its meeting held on 23rd April, 2021 approved the following items of business: Investment Policy of the Company and appointed J M Financial Services as Investment Advisor to invest surplus funds, if any; The terms and conditions of the sanction letter from HDFC for a term loan of Rs 40 Crores for Sheet Metal Project and Specialized Heavy Fabrication Project for Machinery procurement; Revised remuneration of P. Srinivas Reddy, Managing Director of the Company to Rs 20 lakhs pm which is divided into 60% as fixed and 40% as variable pay based on the performance of the company; Appointment of Seshachalam & Co as Internal Auditors of the Company for Financial Year 2021-2022; and appointment of S.S Reddy & Associates as Secretarial Auditors of the Company for Financial Year 2020-21 and Financial Year 2021-2022.
The above information is a part of company’s filings submitted to BSE.
