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| Exchange Disseminated Time | Kesar Enterprises Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 29, 2013, has transacted the following:
1. Noted erosion of more than 50% of the Net Worth of the Company as on the financial year ended June 30, 2013 in relation to its peak Net Worth during the immediately preceding four financial years pursuant to Section 23 of the Sick Industrial Companies (Special Provisions) Act, 1985 (SICA).
2. In view of the loss for the year 2012-13, the Directors have not recommended any dividend.
3. Appointment of Shri P. Nayak as Nominee Director of General Insurers’ (Public Sector) Association of India, Delhi (GIPSA) and General Insurance Corporation of India (GIC) in place of Shri S. Sethuraman. |
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