The Hindu Business Line : Shareholders okay Pricol IT foray

COIMBATORE: THE proposal of Pricol Ltd, engaged in the manufacture of products such as dash-board instruments, sensors and oil pumps, to enter into the business of information technology consulting and services has been approved by its shareholders.

In a press release, Mr V. Srinivasan, Company Secretary, said that the postal ballot on the special resolution to alter the memorandum of association of the company by inserting a new sub-clause `to carry on the business of information technology consulting and services' was in favour of the move.

Of the valid votes polled, 99.9997 per cent was cast in favour of the resolution and 0.0003 per cent was against it.

The CMD of Pricol, Mr Vijay Mohan, declared as passed the special resolution with requisite majority, he said.

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P.V.R. Murthy is Finance Director of Yash Birla Group