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| Exchange Disseminated Time | Paras Petrofils Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 30, 2014, inter alia, has transacted the following:
1. The Board reviewed the overall market scenario of the yam industry in Surat as well as the whole of India. The Board made considerable discussion on the same and finally decided that looking at the market scenario and performance of other industries with similar product range, during the last year it will be in the interest of the company to parmentantely discontinue its manufacturing activity and dispose off all assets related to yarn manufacturing activity subject to approval of the Shareholders.
2. The Board has accepted the resignation of Shri Siddharth C. Patel, Shri Jivabhai A. Patel, Shri Kailashchand Jain, Shri Anandkumar Jain, Shri Murli Manohar Modani, Shri Pravinchand Jariwala from the Board. |
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