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| Exchange Disseminated Time | Kesar Terminals & Infrastructure Ltd has informed BSE that the Company along with its Consortium Member Kesar Enterprises Limited [KEL] had formed a Special Purpose Vehicle in the name of "Kesar Multimodal Logistics Ltd." (KMLL), for setting up a Composite Logistics Hub" at Pawarkheda, District Hoshangabad, Madhya Pradesh on Design, Build, Finance, Operate and Transfer (DBFOT) basis through Public Private Participation (PPP).
Pursuant to the allotment of 47,00,000 Equity shares of Rs.10/- by KMLL and as approved by the Board of Directors of KMLL at their Board Meeting held on August 10, 2012 the Company’s holding in KMLL has become more than 50%. Hence pursuant to the provisions of the Companies Act, 1956, KMLL has become the subsidiary of the Company with effect from
August 10, 2012. |
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