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| Exchange Disseminated Time 12/11/2015 15:35:06 | Magnum Ventures Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 12, 2015, inter alia, has considered the following:
1. Constituted the committee for the adoption of Policy on Preservation of Documents.
2. Constituted the committee for adoption of Policy on Board Diversity.
3. Constituted the committee for adoption of Policy on Risk Management.
4. Discussed the following matter in the Board- In July 14, The Company sold the non-core assets i.e. plot no. A-35/1 measuring 10074 Sq mtr and A-40/2 measuring 9194 Sq mtr, which was not mortgaged with the Banks, by sub-dividing the plots in smaller area i.e. A-35/1/1 measuring 2809.94 Sq Mtr to M/s. IONS FILTECK PVT. LTD, A-35/1/2 measuring 3250.96 Sq Mtr to Green Future Windows (P) Ltd, A-35/1/3 measuring 4014.17 Sq Mtr to M/s. Rajiv Automobiles, A-40/2/1 measuring 5000 Sq Mtr to Mr. Shankey Garg and Pranshu Garg and A-40/2/2 measuring 4194 Sq mtr to Rakesh Road Carriers. One of the conditions of buyers of the subdivided plots is to get approval of sub-division from UPSIDC.
On May 25, 2015, UPSIDC approved our application dated July 14, 14 for subdivision of said plot and compliance stipulated in approval completed i.e. the deal finally completed. |
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