Intimation about the following decisions taken at the Board Meeting held on March 24, 2017, subject to approval of Members wherever necessary:
(i) To reappoint Dr. A. Velumani as Managing Director & CEO for 3 years from 01-04-2017 on a token salary of Re. 1/- per month as chosen by him.
(ii) To reappoint Mr. A. Sundararaju as Executive Director & CFO for 3 years from 01-04-2017 on the same salary of Rs. 5 lakhs per month.
(iii) To acquire the trademark “Whaters” from Dr. A. Velumani, Chairman & Managing Director, who offered to assign the same to the Company for a token consideration of Re. 1/- and the trademark “Nueclear” to NHL, the wholly owned subsidiary, for a similar token consideration of Re. 1/-, and also waive the royalty due to him from both the companies for usage till now.
(iv) To give loan to NHL, the wholly owned subsidiary, at arm’s length basis, to help them acquire costly equipment like Cyclotron, PET-CT Scan machines, etc. for setting up additional scanning centres.