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BSE SENSEX
73,088.33
+599.34
+0.83 %
Corporate Announcement
Security Code
530759
Company
Sterling Tools Ltd
Exchange Received Time
07/05/2020 16:35:11
Exchange Disseminated Time
07/05/2020 16:35:19
Time Taken
00:00:08
Intimation Under Regulation 30 Of The SEBI (Listing Obligation And Disclosure Requirements) Regulations, 2015- Renunciation Of Remuneration By Executive Directors. |
05/07/20 16:35
In the wake of current pandemic COVID-19 and its severe impact on Economy especially on Automotive Sector and in the Company' interest, the Executive Directors of the Company i.e., Shri Anil Aggarwal, Chairman Cum Managing Director & CEO and Shri Atul Aggarwal, Whole Time Director & CFO of the Company have voluntarily renounced their 50% of the remuneration.
The Board of Directors after considering the recommendation of Nomination & Remuneration Committee by way of Circular Resolution passed on 6th May, 2020, have approved the proposal of the Promoter Executive Directors to voluntarily renounce their remuneration as stated above and the said renunciation shall be reviewed by the Board on quarterly basis.
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