Ahmedabad, Oct 3, 2018 – In accordance with the resolution passed by shareholders at the 8th Annual General Meeting (AGM), Bright Solar Limited has declared dividend at the rate of Rs. 0.10 paisa per share (1% of face value) out of the current profits of the year 2017-18 to those Equity shareholders whose names stand in the register of members as on 14th Day of September, 2018. (Record Date)
The Directors and the Company Secretary will deposit the dividend amount within 5 days from the date of declaration to a Dividend account opened with ICICI Bank, Ahmedabad for that purpose and shall comply with any other legal requirement in this regard including taking all necessary steps to ensure remittance of the dividend amount to the shareholders after complying with applicable Dividend Distribution Tax provisions, if any.
Amongst other developments at the AGM, the audited financial statements of the company, along with the reports of the Board of Directors and Auditors, have been approved by the members of the company. Furthermore, Mr. Dwarkadas Babubhai Thumar has been reappointed as the Whole-time Director, and Mrs. Jagrutiben Joshi has been appointed as a Non-Executive Director of the company after having served as an Additional Director of the company previously.
The shareholders voted to increase the borrowing limit of the company to Rs. 100 crores under Section 180 (1) (C) of Companies Act, 2013. They have also given their consent to the company for material related party transaction party in ordinary course of business for a consideration up to Rs. 5 crore for the financial year 2018-19.