Malabar Trading Co Ltd Approves Acquisition Of Factory Premises; Announces Management Change
Malabar Trading Co Ltd announced that the Board of Directors of the Company at its meeting held on January 30, 2013, inter alia has considered and approved the following: 1. Approved the acquisition of a part of a factory premises along with all facilities on lease basis, which is a running unit manufacturing pharmaceutical formulations. The Company would, in line with objects, undertake the manufacturing of pharmaceutical formulations, subject to all requisite approvals, if any, and matters incidental thereto. Terms of the transaction were not disclosed. 2. Accepted the resignation of Mr. M L Laxkar from the post of Managing Director w.e.f. January 30, 2013. Mr. Laxkar continues to be a director of the Company. 3. Appointed Mr. Rajeev Agnihotri as an additional director of the Company w.e.f. January 30, 2013. Mr. Agnihotri has also been appointed as Managing Director of the Company w.e.f. January 30, 20I3.
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