Lumax Auto Technologies informs about change in management

Lumax Auto Technologies Ltd. | Auto Ancillary | Automobiles | BSE: 532796 | NSE: LUMAXTECH

22 Jul 2024 Evaluate

Pursuant to the provisions of Regulation 30 and other applicable Regulations of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, (hereinafter referred to as the Listing Regulations), Lumax Auto Technologies has informed that the Board of Directors of Lumax Auto Technologies (the Company), at their Meeting held today i.e. Monday, July 22, 2024, have considered and approved the following matters: Took note of the cessation of Directorship of Mr. Milap Jain (DIN: 06738071), Non-Executive Independent Director from the Board of Directors of the Company consequent upon completion of second term of 5 years with effect from the close of business hours on July 22, 2024, in compliance of the provisions of Section 149(11) of the Companies Act, 2013; Took note of the cessation of Directorship of Mr. Roop Salotra (DIN: 06650145), Non-Executive Independent Director from the Board of Directors of the Company consequent upon completion of second term of 5 years with effect from the close of business hours on July 22, 2024, in compliance of the provisions of Section 149(11) of the Companies Act, 2013. The Board placed on record its appreciation for the invaluable contribution by Mr. Milap Jain and Mr. Roop Salotra during their tenure as the Non- Executive Independent Directors of the Company; Approved, based on recommendation of the Nomination and Remuneration Committee, the appointment of Parag Chandulal Shah (DIN: 00374944) as an Additional Non-Executive Independent Director, of the Company for a period of Five (5) Years with effect from July 23, 2024. Detailed disclosure as required under SEBI Circular No. SEBI/HO/CFD/CFD-PoD-l/P/CIR/2023/123 dated July 13, 2023 along with the details as required under Regulation 30 and other relevant provisions of the Listing Regulations, with regard to the aforesaid resignation and appointment is enclosed herewith as Annexure - A; Approved, based on recommendation of the Audit Committee, grant of Secured loan in the form of Inter Corporate Deposit to Marble City India Limited for amount of Rs. 18 Crores. The detailed disclosure as required under SEBI Circular No. SEBI/HO/CFD/CFD-PoD-l/P/CIR/2023/123 dated July 13, 2023 along with the details as required under Regulation 30 and other relevant provisions of the Listing Regulations, with regard to the aforesaid Secured loan in the form of inter corporate deposit is enclosed as Annexure - B. The Meeting of the Board of Directors commenced at 12:15 PM and concluded at 02:15 PM. The aforesaid outcome shall also be made available on the website of the Company at www.lumaxworld.in/lumaxautotech.

The above information is a part of company’s filings submitted to BSE.

Lumax Auto Tech Share Price

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