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| Exchange Disseminated Time | Shree Rama Multi-Tech Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 23, 2005, inter alia, has transacted the following businesses:
1. The Board discussed the press item which appeared in a leading Financial Daily on July 23, 2005, regarding the acquisition of equity shares of the Company by Nirma Industries. It was noted by the Board that the Promoters are already in talks and holding necessary negotiations with Nirma Industries on this issue.
2. The Board took on record the decision of the Board of Directors of Shree Rama Multi-Pack (Guangzhou) Ltd, the Chinese subsidiary company of the Company, to wind up the company as it has ceased its operations. Accordingly, the Board approved the winding up of Shree Rama Multi-Pack (Guangzhou) Ltd.
3. The Board noted that the Pondicherry unit of the Company had ceased its operations and accordingly approved the closure of the Plant of the Company at Pondicherry. It was decided that all the machineries, plants & equipments lying at the Pondicherry Unit be transferred to the Ambaliyara Unit of the Company and approved the proposal to rent / lease out the unit. The Board noted that such closure of plant at Pondicherry did not result into reduction of the installed capacity of the products of the Company. |
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