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| Exchange Disseminated Time | BASF India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 20, 2009, inter alia, has transacted the following:
1. The Company has a small formulation unit at Dadra. As a part of the rationalization measures undertaken by the Company at its Dadra site, the Board of Directors of the Company at their meeting held on July 20, 2009 approved the cessation of production of Agrochemicals at the Company's Dadra Site. There is no adverse impact of a maternal nature arising on account of cessation of production activities at the Company's Dadra site. Alternative arrangements are put in place for supply of Agrochemical products to the customers.
To rationalize the Company's manpower needs and build efficiency, the Board of Directors of the Company approved the introduction of Voluntary Retirement Scheme for the employees of the Company.
2. The Board of Directors of the Company also approved the re-appointment of Mr. Prasad Chandran as the Managing Director of the Company for a further period of 5 years with effect from April 02, 2010 subject to the approval of Members at the ensuing Annual General Meeting. |
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