Everest Kanto Cylinder Ltd has informed that the Board of Directors of the Company at its meeting held on November 17, 2008, inter alia, has transacted the following:
1. Deliberated on the proposal for Buy Back of the equity shares of the Company and asked the management to revert with a more elaborate analysis and deferred the proposal for Buy Back.
2. Approved the investment of upto Rs 1000 Lakhs by way of equity share capital and / or loan in a proposed 50:50 joint venture Company in India with Distribuidora Shopping S.A., Tomasetto Achilles group, Argentina for carrying on the business of assembling / manufacturing of CNG kits and related activities.
1. Deliberated on the proposal for Buy Back of the equity shares of the Company and asked the management to revert with a more elaborate analysis and deferred the proposal for Buy Back.
2. Approved the investment of upto Rs 1000 Lakhs by way of equity share capital and / or loan in a proposed 50:50 joint venture Company in India with Distribuidora Shopping S.A., Tomasetto Achilles group, Argentina for carrying on the business of assembling / manufacturing of CNG kits and related activities.
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