Indian Real estate
major DLF Ltd has sought shareholders' approval for the re-appointment of
billionaire mr. K P Singh as its chairman for the next 5 years and also to
increase the number of directors to 15.
DLF Ltd, the
country's largest real estate developer, would get the approval through postal
ballots.
In the postal ballot
notice filed with the BSE, DLF Ltd has sought shareholders' approval for
alteration in the articles of association to increase the maximum number of
directors to 15 from the current limit of 12.
The board currently
comprises of 11 directors, of which 6 directors are independent
DLF Ltd has also
sought investors' nod for re-appointment of Mr. Singh, who has been the
chairman since October 1, 1995, as the group's chairman for 5 years with effect
from October 1, 2013. His basic salary will be Rs. 8 lakh per month, the notice
said.
He received
remuneration of Rs. 4.52 crore in fiscal year 2012-13, including salary,
benefits, perquisites, allowances & commission.
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