Ahluwalia Contracts India Ltd has informed that the Board of Directors of the Company at its meeting held on March 31, 2008 has considered and approved the following resolutions:
1. The Board has considered and approved, slump sale of RMC Division of the Company into wholly owned subsidiary Company of Ahluwalia Contracts (India) Ltd, subject to finalization of formalities and modalities.
2. The Board has requested to Mr. Bikramjit Ahluwalia to continue as Executive Chairman & Managing Director of the Company in the interest of Company. The matter has not been conceded and dropped by the Board of Directors of the Company.
3. In view of the non-acceptance of Voluntary Retirement proposal, the Board has dropped
incidental matters e.g. approval of the compensation / remuneration payable to Mr. Bikramjit Ahluwalia in Professional Capacity & approve Holding of office or place of profit of Mr. Bikramjit Ahluwalia.
4. The Board has considered and approved to disinvest the holding of 2650090 Equity
Shares of Rs 10/- each of Ahluwalia Parenterals (India) Ltd, amongst inter-se promoters
group and subject to compliance of SEBI (substantial acquisition and takeovers) Regulations 1997 and SEBI (prohibition of insiders trading) Regulation 1992.
1. The Board has considered and approved, slump sale of RMC Division of the Company into wholly owned subsidiary Company of Ahluwalia Contracts (India) Ltd, subject to finalization of formalities and modalities.
2. The Board has requested to Mr. Bikramjit Ahluwalia to continue as Executive Chairman & Managing Director of the Company in the interest of Company. The matter has not been conceded and dropped by the Board of Directors of the Company.
3. In view of the non-acceptance of Voluntary Retirement proposal, the Board has dropped
incidental matters e.g. approval of the compensation / remuneration payable to Mr. Bikramjit Ahluwalia in Professional Capacity & approve Holding of office or place of profit of Mr. Bikramjit Ahluwalia.
4. The Board has considered and approved to disinvest the holding of 2650090 Equity
Shares of Rs 10/- each of Ahluwalia Parenterals (India) Ltd, amongst inter-se promoters
group and subject to compliance of SEBI (substantial acquisition and takeovers) Regulations 1997 and SEBI (prohibition of insiders trading) Regulation 1992.
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