National
Infosys seeks investors’ nod for share buyback, new appointments
Bengaluru, Sep 2 (IANS) Global software major Infosys Ltd has sought its shareholders’ approval, through postal ballot and electronic voting, for buyback of equity shares and appointments of co-founder Nandan Nilekani as non-Executive Chairman, U.B. Pravin Rao as Managing Director and D. Sundaram as an Independent Director.
“The postal ballot notice is being sent to all shareholders whose names are in the register as on August 30, 2017 to seek their approval for the buyback of the equity shares and appointments of Nilekani, Rao and Sundaram on executive posts,” said the IT major in a regulatory filing on the BSE on Friday.
The voting through postal ballot and e-voting will be held from September 8 to October 7 and results will be announced on October 9.
Practising Company Secretary Paramehswar Hegde will be the scrutiniser for the postal ballot and e-voting, while the National Securities Depository Ltd (NSDL) will conduct the e-voting.
The Board on August 19 approved the buyback of 11.3 crore equity shares of Rs 5 face value at Rs 1,150 per share on a proportionate basis through the tender offer route as per the regulatory rules.
The offer size is 20.51 per cent of the total paid-up capital and free reserves, aggregating up to 4.92 per cent of the total shares for an amount not exceeding Rs 13,000 crore.
According to the shareholding pattern, the promoters group, comprising co-founders and their families hold 12.92 per cent of the shares, Foreign Institutional Investors & Foreign Portfolio Investors 37.33 per cent, Indian retail, corporate and other investors 23.08 per cent, Indian FIs, Banks and Mutual Funds 9.63 per cent, American Depository Receipts 16.69 per cent and NRIs 0.52 per cent.
The company is also seeking the shareholders’ consent through a special resolution on the appointment of Nilekani as an additional, non-executive and non-independent Director as decided by the Board on August 24.
Shareholders’ approval is also being sought through another resolution for the appointment of Rao as the company’s Managing Director for 5 years, with no additional remuneration.
The Board appointed Rao on August 18 as the interim Chief Executive Officer and Managing Director following the resignation of the company’s first non-founder CEO Vishal Sikka from the post on the same day.
“Rao will continue to perform his role as the Chief Operating Officer and interim CEO, along with his role as the Managing Director or until a new CEO and MD is appointed,” said the filing.
The company is seeking the shareholders’ approval for the appointment of Sundaram, 64, as an Independent Director for 5 years up to July 13 2022, as decided by the Board on June 30. He is a veteran executive from FMCG major Hindustan Unilever Ltd.
–IANS
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Lucknow: Vishal Singh, a renowned social worker from Lucknow, also known as Foodman, has once again made India proud. He was honored by the Happy Hands Gloves Cooperative Limited Company in Korathai, Thailand, for his work with the Hunger Free World Mission.
The Hunger Free World Mission’s meeting was held in Korathai, Thailand, under Vishal Singh’s leadership. Representatives from several countries, including Mr. Raja Dwivedi (Managing Director of Happy Hands Gloves Limited), Thailand Coordinator Mr. Raja Mishra, and member Mr. Varun Singh, attended the event.
Under Vishal Singh’s leadership, the attendees took a pledge to work together toward creating a hunger-free world.
Speaking on the occasion, Vishal Singh explained that the main goal of the Hunger Free World Mission is social participation. He said the mission is not just about feeding people but also about meeting other basic needs of those who are struggling. The mission focuses on helping families of terminally ill patients in hospitals by providing food and shelter. It also works to fulfill essential needs like education, jobs, and care for the elderly.
For the last 16 years, the Vijay Sri Foundation has been providing free services, benefiting thousands of people. Vishal Singh highlighted that the mission aims to gain global recognition like other organizations such as WHO, WWF, and Red Cross, which work for social causes.
During this meeting, Vishal Singh was appointed as the Chairman of the Hunger Free World Mission by representatives from various countries. They also discussed holding regular meetings in different countries to push the mission forward.
Business tycoon Dr. Abhishek Verma has also supported this humanitarian mission, vowing to promote the idea of “Seva Parmo Dharma” (Service is the highest duty) worldwide. Vishal Singh praised him, stating that people like Dr .Abhishek Verma inspire others to work for the betterment of society.
Recently, Romania’s Ambassador, Mr . Daniela Sezonov Ţane, invited Vishal Singh to the Romanian Embassy in Delhi, where they discussed the mission in detail. Impressed by his humanitarian work, she honored Vishal Singh and invited him to Romania to take the mission forward .
Food man Vishal Singh has been serving the people of India for the past 16 years. Through the Vijay Sri Foundation, he provides free meals to cancer patients & their families ,shelter, and education for women & children along with running free old-age homes in Lucknow.
In addition to his humanitarian work, Vishal Singh also addresses issues like crime and corruption through his role as Chairman of Seva Path Media and Managing Director of Vijay Sri Foundation.
During the COVID-19 pandemic, Vishal Singh and his team worked tirelessly to provide food and help to the needy, including starving children, elderly citizens, and pregnant women. Despite contracting the virus himself, he continued to assist others after his recovery. He even created a life-saving oxygen regulator using household items, which was praised by doctors both in India and abroad.
In his address at the meeting, Vishal Singh spoke about his mission to create a hunger-free world. He pointed out that India’s large population, along with issues like unemployment and poverty, has caused the country to fall on the Hunger Index. He urged people to contribute just one handful of grains daily to help create a hunger-free world.
He concluded by saying that through social participation, we can empower the people around us, meet their basic needs, and work together to build a stronger, more prosperous, and developed society.
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