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| Exchange Disseminated Time | Binny Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 14, 2014, inter alia, transacted the following business:
1. The Board directed the Company to examine the Pros and Cons of merger of M/s. Mohan Breweries and Distilleries Limited (MBDL), its Subsidiary Company, M/s. Arthos Breweries Limited (ABL) with M/s. Binny Limited (BL).
2. The Board approved the proposal received from M/s. Landmark Housing Projects Chennai Private Limited for upfront settlement of entire Consideration for sale of 14.16 acres of land parcel, subject to obtaining the approval of shareholders.
3. Mrs. T. Manisriram has been appointed as an Additional Director of the Company w.e.f. November 14, 2014.
4. Mr. T. Krishnamurthy has been appointed as Chief Financial Officer and Company Secretary of the Company w.e.f. October 13, 2014.
5. The Board reviewed the feasibility of acquisition of 37.20 MW Wind Farm from M/s. Mohan Breweries and Distilleries Ltd (MBDL - related party) and approved for making advance payments up to 50% of the Offer Price to MBDL and any such advance if paid, shall be refunded by MBDL to the Company, if the transaction is not consummated.
6. The Board discussed the proposal of the Company for establishment of Spinning Mill and directed the Company to submit a Feasibility Report. |
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