Novartis India Ltd has informed BSE that the members at the 47th Annual General Meeting (AGM) of the Company held on July 26, 2011, inter alia, have approved the following:
1. Dividend of Rs. 10/- per equity share of Rs. 5 each;
2. Appointment of M/s. Lovelock & Lewes, Chartered Accountant as Statutory Auditors of the Company. The retiring Auditors M Price Waterhouse has expressed their inability to continue as Statutory Auditors of the Company;
3. Re-appointment of Mr. R. Shahani as a Director;
4. Variation in the terms and conditions of appointment of Mr. R. Shahani as Vice Chairman & Managing Director.