Financial Daily from THE HINDU group of publications
Sunday, Dec 18, 2005
Financial Daily from THE HINDU group of publications Sunday, Dec 18, 2005 |
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Corporate
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Announcements Kalyani Brakes EGM clears sale of 2-wheeler brake manufacturing unit Our Bureau
Pune , Dec. 17 THE extraordinary general meeting of Kalyani Brakes has approved the sale of the two-wheeler brake manufacturing facility by postal ballot. According to the notification issued to the Bombay Stock Exchange, an ordinary resolution pursuant to Section 293(1)(a) of the Companies Act 1956 to sell the facility had been passed with requisite majority. A special resolution pursuant to Section 17 of the Companies Act 1956 to alter the `Other Objects' clause of the Memorandum of Association of the company, had also been passed. Kalyani Brakes manufactures conventional brake systems and components with plants in Jalgaon, Pune, and Manesar. It generated sales of 63 million euros in 2004-05 (1 euro is approximately Rs 54.)
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