CRISIL Ltd - 500092 - Announcement under Regulation 30 (LODR)-Meeting Updates
Please take note of the following outcomes from the Meeting of the Board of Directors of the Company, held today: (a) The Board approved the Unaudited Standalone and Consolidated Financial Results for the first qua11er ended March 31, 2019. A copy of the Unaudited Financial Results of the Company, along with a copy of the Limited Review Report and the Press Release in this regard are enclosed. (b) The Board approved payment of Interim dividend of Rs. 6 per equity share of face value of Re 1 each, for the financial year ending December 31, 2019, which will be paid on May 15, 2019. (c) The Board noted resignation of Ms. Martina Cheung as Director of the Company, with effect from April 18, 2019 and approved appointment of Mr. Martin E. Fraenkel as an Additional Director of the Company, with effect from April 18, 2019. Brief profile of the appointed director is enclosed as Annexure 1. (d) Pursuant to and in order to comply with SEBI Notifications dated May 30, 2018 and September 19, 2018, under the SEBI (Credit Rating Agencies) Regulations, 1999, which mandates segregation of Rating and Non-Ratings businesses by credit rating agencies, the Company has approved a Scheme of Arrangement (''Scheme'') for transfer of its Ratings business to a Wholly Owned Subsidiary (to be incorporated) ("Transferee Company") of the Company. The Ratings business alongwith the assets, liabilities, contracts, deeds, obligations etc. shall be transferred and vested with such Transferee Company, as a going concern by way of a slump sale, on the terms...17-04-2019