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Our Bureau

Kolkata , Jan. 31

THE shareholders of Falcon Tyres have allowed Ruia Group to take control of the company without any open offer. The extraordinary general meeting of the company held on Monday has approved the `indirect acquisition.' A special resolution in this regard was approved by requisite majority through postal ballot.

According to a spokesperson of the Ruia Group, the board and management of Falcon Tyres has been recast following approval of the shareholders.

Mr P.K. Ruia, Chairman, Ruia Group, has assumed the position of non-executive Chairman. Mr A. Sadasivam has become the Managing Director of the company.

Mr Prakash Nene, who recently quit the Jumbo Group, has retained his position as a Director. Mr N. Badrinath is inducted in the new board as a Director.

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