Announcement Under Regulation 30 (LODR) - Updates

| Updated on April 19, 2018 Published on April 19, 2018

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, intimation is hereby provided that the Company has entered into a Memorandum of Understanding (MOU) on the 18th of April, 2018, with its Labour Union for permanent discontinuation of the operations at its factory situated at Pimpri, Pune. This mutual decision has been necessitated due to the continuous operational losses at the Pimpri factory for a period of last 4 to 5 years.

The Company shall, in accordance with the terms of the MOU, undertake to pay the dues to the unionised employees in full and final settlement. Necessary confirmation to this effect shall be promptly intimated to the Stock Exchanges.

There is no disruption, in the manufacturing operations at the Nalagarh factory of the Company.

Kindly take the same on record.

Pdf Link: Announcement Under Regulation 30 (LODR) - Updates

Source : BSE - www.bseindia.com

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Published on April 19, 2018
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