DLF Ltd: Seeks Shareholders' nod for Re-appointment of Mr. K P Singh..

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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