|
| Exchange Received Time 26/08/2018 17:36:40 Exchange Disseminated Time 26/08/2018 17:36:47 Time Taken 00:00:07 |
We would like to inform that; the Company had opened a Voluntary Retirement Scheme (VRS) for its workmen at Maneja (Vadodara) factory on 21 August 2018, which was closed on 25 August 2018. Around 95% of workmen at the above factory have opted for the aforesaid scheme. Considering the current market situation, wherein the company is experiencing more capacity than market volumes and that majority of workers have accepted the VRS, it is not viable for the management to operate the factory and shall cease operations at the Maneja plant with effect from 27 August 2018.
Pursuant to the provisions of the Company's 'Code of Conduct to Regulate, Monitor and Report Trading by Insiders', the trading window shall remain closed from 26 August 2018 (6 p.m. onwards) to 28 August 2018 (both days inclusive).
|
|
|