The principal terms and conditions of appointment of Smt. Hansarani R. Vaghela (WTD)
(DIN 01468168 ) as Joint Managing Director have been approved by the Board of Directors in
the Board Meeting dated 11th August, 2018. These particulars also constitute the abstract
of the terms of appointment and remuneration pursuant to section 190 of the companies Act,
2013. Under section 196 and 197 of the act, the appointment and the terms of remuneration
of the Joint MD are required to be approved by the company in General Meeting.
Accordingly, a resolution is being moved for approval of shareholders. The Board and the
Nomination and Remuneration Committee is of the opinion that it is in the interests of the
company that Smt. Hansarani R. Vaghela be appointed as the Joint MD of the Company, the
terms and conditions of her appointment are fair & reasonable and commensurate with
her qualifications. Hence the Board recommends her appointment as the Joint MD to the
members of the Company. The Relevant information as required under sub clause (iv) of
Proviso 2 of (B) of Part II of Schedule V is as given below:
Information about Smt. Hansarani Vaghela: Smt Hansarani Vaghela DOB: 31st August, 1978,
age of 39 years, has done BA (Economics) from Fergusson College, Pune and MBA (Human
Resource Development) from SIOM Pune. She was appointed as an Additional Director of the
Company at a Meeting of the Board of Directors held on 13th August, 2016. She is director
of Shivangan Food & Pharma Products Private Limited, Endeavour Infotech Private
Limited And Jay Ganga Farmar Producer Company Limited., Smt. Hansarani Vaghela holds
1,12,700 shares of the company in her name as on 31st March, 2018.
Smt. Hansarani Vaghela is interested in the resolution as it concerns her appointment.
Shri Jitendrasinh J. Rawal, Smt. Nayankuwar J. Rawal, Smt. Panchratna J. Rawal and Shri.
Ripudamansingh Vaghela is related may also be regarded as interested or concerned in the
resolution.
The Board of Directors recommends the resolution as a Special Resolution for approval
of the members
General Information: Universal Starch-Chem Allied Ltd. Is engaged in the manufacture of
Starches & their derivatives and other By-Products. The company has been established
more than four decades back and has shown a consistent growth from year to year.
Other Inforamtion: The Company is concentrating more on exports and with increased
thrust in this direction, it has been able to penetrate in the overseas markets, more
particularly the Middle East market. The Company has also concentrated on cost cutting
devices to cut the cost on all fronts. The Company is also planning to add some more
products in its portfolio to improve the margins. Thus with continued application of
stringent cost cutting measures and addition of more products with better margins, the
Company expects to improve its turnover and profitability in the years to come.
For and on behalf of the Board of Directors For Universal Starch Chem Allied Limited
| Place: Mumbai |
Chaitali Salgaonkar |
| Date: 11th August, 2018 |
Company Secretary |