TO SECTION 102(1) OF THE COMPANIES ACT,2013
Item No -3
Mr.Naga Mohan Babu Mangalapurapu, (DIN - 08013083) who was appointed as an Additional
Director of the company w.e.f. 8th February, 2018 pursuant to the provisions of Section
161 and other applicable provisions if any of the Companies Act, 2013, holds office up to
the date of this Annual General Meeting of the company and is eligible for appointment. In
terms of Section 160 of the Companies Act, 2013, the company has received a notice in
writing along with a deposit of requisite amount from a Member signifying his intention to
propose the candidature of Mr.Naga Mohan Babu Mangalapurapu for the office of Director.
The provisions of the Companies Act, 2013 with respect to appointment and tenure of the
independent directors have come into effect. as per the said provisions, the independent
directors shall be appointed for not more than two terms of five years each and shall not
be liable to retire by rotation at every AGM.
In terms of Section 149, 150, 152, 160 and other applicable provisions of the Companies
Act, 2013, Mr.Naga Mohan Babu Mangalapurapu, being eligible, offer himself for appointment
as Independent Director on the Board of the Company. In line with the requirements of the
Companies Act, 2013, it is therefore proposed to appoint Mr.Naga Mohan Babu Mangalapurapu,
as Independent Director on the Board of the Company for a term upto five (5) consecutive
years, from 08.02.2018. A brief profile of proposed Independent Director, including nature
of their expertise, is provided in the Annual Report
Notices have been received from Members proposing candidate of the above Director for
the office of Independent Director of the Company. In the opinion of the Board, Mr.Naga
Mohan Babu Mangalapurapu, fulfill the conditions specified in the Companies Act, 2013 and
the Rules made there under for appointment as Independent Director of the Company. A copy
of the draft Letter of Appointment for Independent Director, setting out terms and
conditions of their appointment, is available for inspection at the Registered Office of
the Company during business hours on any working day and is also available on the website
of the Company.
None of the Directors or Key Managerial Personnel of the Company and their relatives,
other than Independent Directors for their respective appointment, is concerned or
interested, financially or otherwise, in these Resolutions. The Board commends the
Ordinary Resolution as set out at item no. 3 for approval of the Members
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By order of the Board |
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INNOCORP LIMITED |
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Sd/- |
| Place: Hyderabad |
Mr. Prasad V S S Garapati |
| Date: 14th August 2018 |
Chairman and Managing Director |
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DIN: - 00209436 |