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| Exchange Disseminated Time 07/03/2016 19:02:41 | Anik Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 07, 2016, inter alia, considered the followings:
1. Considered and approved the re-appointment of Mr. Ashok Kumar Trivedi as Whole time Director of the Company for a further period of 5 years w.e.f. April 01, 2016 subject to approval of the members in next general meeting.
2. Considered and approved the sale and transfer of the Dairy business of the Company being run at its plants situated at Dewas, Bhopal in the state of Madhya Pradesh and at Etah in the state of Uttar Pradesh to M/s B.S.A. International, Belgium or its affiliates, as a going concern for a lump sum consideration in cash of approximately Rs. 470 Crore (Rs. Four Hundred Seventy Crore) subject to adjustments in accordance with the Slump Sale Agreement and authorized Mr. Manish Shahra, Jt. Managing Director of the Company to take all necessary steps in this regard. The proposed sale and transfer of Dairy business will be subject to approval of members, lenders and statutory / regulatory authorities, as required and other conditions. |
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