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| Exchange Received Time 14/11/2018 16:14:31 Exchange Disseminated Time 14/11/2018 16:14:37 Time Taken 00:00:06 | Pursuant to Regulations 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors in its meeting held on 14 November 2018 has approved the following:
1. Appointment of Mr Varinder Gupta, Managing Director as Chairman of the company.
2. The Board condoled untimely and sad demise of Dr M A Zahir, Chairman of the Company. The Board had conveyed its heartfelt condolences to the bereaved family on behalf of the company. The Board placed on record his invaluable contribution to the progress of the company.
3. Un-audited Financial Results for the Quarter and half year ended 30 September 2018.
4. Enhancement of existing manufacturing facilities of Metformin (Unit IV) from 3,000 TPA to 4,000 TPA in Pharma segment. The additional manufacturing facility of Metformin has been installed with capex of ` 2.71 crore. The project cost has been funded through internal accruals.
5. Completion of Unit V to manufacture Clopidogrel Bisulphate and Fenofibrate with capacity of 180 TPA with capex of ` 19.26 crore. The project cost has been funded through internal accruals.
6. Confirmed resolution passed by circulation confirming the reconstitution of Audit and Risk Management Committee consisting of Dr Sandhya Mehta, Independent Director as Chairman, Mr Chandra Mohan, Independent Director and Mr Vikas Gupta, Executive Director.
7. Approved the Corporate Social Responsibility Policy, a copy of which is being placed on website of the company.
The meeting of Board of Directors commenced at 12:00 noon and concluded at 3:40 p.m.
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