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| Exchange Disseminated Time | Kaushalya Infrastructure Development Corporation Ltd has informed BSE the Board of Directors of the Company at its meeting held on September 04, 2012, inter alia, has consider the following:
1. Due to some unforeseen and unexpected difficulty beyond the control of the Company for which in spite of planning and effort it could not complete the Audit of Annual Accounts for year ended March, 2012. This was primarily because the Company's Whole-time Director, Mr. Sidh Nath Mehra, was detected with last stage Liver Cancer became bed ridden in May and passed away on the July 01, 2012. He was primarily responsible for all financial matters including books of accounts and was key person dealing with banking and other financial matters. Subsequently on August 26, 2012 the promoter Director suffered another setback with the ultimately death of Purnima Mehra due to Dengue Shock Syndrome and resultant sudden cardiac arrest and non of the Promoter Director were able to attend to these matters due to the period of grieving.
2. The Board of Directors has appointed Mr. Mahesh Mehra, as Whole-time director of Company for a period of 5 Years w.e.f. September 04, 2012, subject to the approval of shareholders at General Meeting.
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