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| Exchange Disseminated Time | Hindustan Motors Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 06, 2014, inter alia, has approved the followings :
1. Acceptance of resignation of Shri Naresh Chandra with effect from February 06, 2014 and accordingly, Shri Naresh Chandra ceased to be a Director of the Company with effect from February 06, 2014.
2. Appointment of Shri Sanjay Basu and Shri Raj Kamal Johri as Additional Directors of the Company.
3. Appointment of Shri A. Sankaranarayanan as Chairman of Audit Committee.
4. Subject to approval of lenders and other necessary approvals as may be required, divestment of Chennai Car Plant of the Company at Adigathur, Kadambathur in the District Tiruvallur in the State of Tamil Nadu to Hindustan Motor Finance Corporation Limited based on valuation reports of Independent Valuers, Senthil Associates, Chennai and C. R. Narayana Rao LLP, Chennai as well as fairness opinion by Merchant Banker, VC Corporate Advisors Pvt. Limited, Kolkata. |
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