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| Exchange Disseminated Time | Diamond Power Infrastructure Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 22, 2013, inter alia, has approved the following:
1. Subject to the approval of the Shareholders of the Company by way of postal ballot process pursuant section 192 (A) of the Companies Act, 1956, decided to transfer its entire EPC & Tower Business to Wholly Owned Subsidiary. The Company wants to further clarify that this will enable growth and create management bandwidth for both existing and proposed business and further enhance more liquidity as well as empowers it to have exclusive attention and more focused approach on remaining undertaking.
2. Appoint Shri Ashwin Sahoo as an additional Independent Director of the Company.
The Company has also submitted to BSE a copy Calendar of event for the postal ballot. |
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