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“We wish to inform you that the Board of Directors of the company, at their meeting held on March 11, 2016, have recorded that the offer or invitation for subscription be made to Shapoorji Pallonji, promoter of the company. It was decided not to seek listing of the NCRPS,” the company informed in a statement filed with the BSE.
The shareholders of Gokak Textiles approved to the issue of NCRPS to its promoting company in a general meeting held in Bangalore in February, 2016. The first notice for this issue was filed with the BSE in January.
In another statement filed with the BSE, the company announced the appointment of Sachin Kulkarni, the whole-time director of the company, as its interim compliance officer.
Kulkarni has been serving as the whole-time director of the company since July, 2015. (MCJ)
Fibre2Fashion News Desk – India
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