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| Exchange Disseminated Time | With reference to the earlier letter dated September 25, 2014 regarding Sale of Shareholding of Joint Venture Company - FCC RICO Limited, Rico Auto Industries Ltd has now informed BSE that the Company has divested its entire 50% stake in FCC RICO Limited, its erstwhile joint venture with FCC Co. Ltd., Japan, on December 23, 2014, by way of sale of its entire stake to affiliates of FCC Co. Ltd., Japan which are FCC Group Companies. FCC RICO Limited is now entirely a FCC Group held Company.
Pursuant to the above divesture, the nominee directors of the Company appointed to the board of FCC RICO Limited including Mr. Arvind Kapur have also resigned from the board of directors of FCC RICO Limited with effect from December 23, 2014. |
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