R Systems Announces Postal Ballot Result

The result of the postal ballot has been announced today i.e. on January 14, 2014 at the registered office of the Company and as per the Scrutinizer’s Report, all the three resolutions relating to the below mentioned business matters as contained in the Postal Ballot Notice dated November 29, 2013 have been passed by the requisite majority:

1. Reappointment of Mr. Satinder Singh Rekhi as Chairman & Managing Director of the Company for a period of five years i.e. January 01, 2014 till December 31, 2018 pursuant to Section 269 of the Companies Act, 1956 read with Schedule XIII thereof;
2. Remuneration of Mr. Satinder Singh Rekhi as Chairman & Managing Director of the Company for a period of three years i.e. January 01, 2014 till December 31, 2016 pursuant to Section 198, 269 read with Schedule XIII, 309 and 311 of the Companies Act, 1956; and
3. Sub-division of Equity shares of the Company of face value of Rs. 10/- each into equity shares of face value Re. 1/- each and consequent alteration of Capital Clause of Memorandum of Association of the Company pursuant to Section 16 and 94 of the Companies Act, 1956.

• A copy of the Scrutinizer’s Report is posted here.