RED HERRING PROSPECTUS Dated August 24 ... - Globus Spirits

If at any time the director ceases to be the director of the company for any cause
whatsoever, he shall cease to be the Managing Director of the Company.
The Board of Directors of the Company at their meeting held on 01.08.2009 have revised
the remuneration of Mr. Ajay Kumar Swarup, Managing Director of the Company w.e.f
October 1, 2009 subject to the confirmation of the members of the Company at the General
Meeting.
ii. Mr. Manik Lal Dutta, Executive Director
Mr. Manik Lal Dutta was appointed as Whole Time Director w.e.f August 1, 2006 for a period
of 3 years in the Annual General Meeting of the Shareholders held on September 30, 2006.
The Board of Directors of the Company at their meeting held on 03.10.2008 revised the
remuneration of Mr. Manik Lal Dutta, Executive Director of the Company w.e.f October 1,
2008 which was approved by the Shareholders at the Extra Ordinary General Meeting of the
Company held on 30.10.2008. Further the Board of Directors of the Company at their
meeting held on 01.08.2009 further approved the re-appointment of Mr. Manik Lal Dutta as
Executive Director of the Company w.e.f August 1, 2009 for a period of 3 years subject to
the consent of the members of the Company.
Mr. Manik Lal Dutta, Executive Director is to be paid the following remuneration w.e.f
October 1, 2008 :
a. Basic Salary: Rs. 45,000/- per month with suitable increases as determined by the
Board.
b. HRA: Rs. 18,000/- per month with suitable increases as determined by the Board.
c. Special Allowance: Rs. 6,750/- per month with suitable increases as determined by the
Board.
d. Medical Allowance: Rs. 1,250/- per month with suitable increases as determined by
the Board.
In addition to the above Mr. Manik Lal Dutt will be entitled to the following perquisites
restricted to an amount to be decided by the Board of Directors. Unless the context
otherwise requires, the perquisites are classified as follows:
i. Gratuity not exceeding half month’s salary for each completed year of service
subject to a ceiling of Rs 10 lakhs.
iii.Bonus as per Company’s rules and regulations.
iv.Provision of car with driver for use of company’s business and for private purpose.
v.Telephone facility for use of company’s business purpose.
vi. Earned /Privilege Leave:
One month’s leave with full pay and allowances for every 11 months of service
subject to the condition that leave accumulated but not availed of will not be allowed
to be encashed.
If at any time the director ceases to be the director of the company for any cause
whatsoever, he shall cease to be the Whole-time Director of the Company.
iii. Mr.Rajesh Kumar Malik, Whole Time Director
Mr. Rajesh Kumar Malik was appointed as a Whole Time Director w.e.f December 1, 2006 in
the Extra-Ordinary General Meeting of the Shareholders held on December 29, 2006 for a
period to be determined by liable to retire by rotation. The Board of Directors of the
Company at their meeting held on 03.10.2008 revised the remuneration of Mr. Rajesh
Kumar Malik, Whole Time Director of the Company w.e.f October 1, 2008_which was
approved by the Shareholders at the Extra Ordinary General Meeting of the Company held
on 30.10.2008.
Mr. Rajesh Kumar Malik, Whole Time Director, is to be paid the following remuneration w.e.f
October 1, 2008:
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