Wednesday, May 28, 2008

Outcome Of Gwalior Chemical’s Board Meeting

Gwalior Chemical Industries Ltd has informed that the Board of Directors of the Company at its meeting held on May 27, 2008, inter alia, has transacted the following:

1. Re-appointment of Statutory Auditors was considered and recommended for the approval of the Shareholders.

2. Re-appointment of Shri. K N Luhariwala & Shri. V P Biyani as Directors, who are liable to retire by rotation was considered and recommended for the approval of Shareholders.

3. Two new 100% Subsidiaries of the Company has been Incorporated as follows:
- GCIL Finance Ltd - NBFC Application to RBI is in progress.
- Gwalior Chemicals LLC Incorporated in USA, for trading activities.

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