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| Exchange Disseminated Time | Indo Tech Transformers Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 27, 2008, declared an interim dividend of Rs 8.50 (85%) per equity share of Rs 10/- for the Financial Year 2008-09. The cash outflow on account of dividend and dividend distribution tax would be Rs 9,02,70,000/- and Rs 1,53,41,386/- respectively.
Further the Company has informed that the Board also authorized / approved the proposed sale of the Surplus Assets of the Company, subject to such approvals, as required. These assets are lying idle and would not, in any way, affect production or other operations of the Company. At present, all the Company's operations and functions are concentrated only at Thirumazhisai and Kanchepuram. The surplus assets comprise:
(a) Land, Building and Plant & Machinery at Koyamarrakad (Palakkad).
(b) Land at Puthur (Palakkad).
(c) Land at Ayyanambakkam (Chennai).
(d) Land at Guindy (Chennai). |
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