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| Exchange Disseminated Time | SRG Infotec Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 04, 2006, has considered and discussed the matter relating to the formation of Joint Ventures / Association and the following was approved with the unanimous Board resolution:
To form two Joint Ventures / Associations with the investment of approximately Rs 500 million each:
1. 1st, with the name of Pan-Asia, Promoters and Developers based at Bangalore for the purpose of dealing in Infrastructure related Projects etc.
2. 2nd, with the name of Global Infrastructure based at Mumbai for the purpose of expansion of Information Technology business and which shall include among others, import, export, develop, assemble, let on hire and otherwise deal in Computer Hardware, Software and Firmwares etc. and to act as computer data processing centre and to conduct various computer training courses.
Further the Company has informed that, in the above said meeting the above said Joint Ventures / Associations will be subject to requisite statutory approvals and other customary closing conditions. |
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