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EID Parry board approves sale of the plant & equipment of the Sugar Factory at Pettavaithalai, Tamil Nadu

EID Parry India Limited board of Directors has approved the Sale of the Plant & Equipment of the Sugar Factory at Pettavaithalai in Tamil Nadu, which is not in operation.

The company’s Board of Directors in a meeting on Monday also approved the investment of Rs19cr in the share capital of the Joint Venture Company – Algavista Greentech Pvt Ltd.

It also appointed Sridharan Rangarajan as an Additional Director of the company with effect from October 4, 2021. The company also informed that V. Ravichandran stepped down as Chairman and as a Director of the Company effective close of business hours of October 4, 2021.

The Board elected MM Venkatachalam, Non-Executive Director as Chairman of the Board of Directors with effect from October 5, 2021.

At around 12.18 pm, EID Parry (India) Ltd was trading at Rs440.15 per piece up by Rs4.7 or 1.08% from its previous closing of Rs435.45 per piece on the BSE.

The above news was originally posted on www.indiainfoline.com

Sugar Times Team
Sugar Times Teamhttps://www.sugartimes.co.in
The Sugar Times Editorial Team is a group of experienced journalists, analysts, and industry experts dedicated to providing in-depth coverage and insights on the global sugar industry. With years of experience in agriculture, trade, sustainability, and market trends, the team brings a wealth of knowledge and expertise to every article they produce.Focused on delivering accurate, timely, and relevant news, the Sugar Times Editorial Team aims to keep industry professionals, stakeholders, and enthusiasts informed on key developments in sugar production, trade policies, innovations, and sustainable practices. Their collective goal is to help readers navigate the complexities of the sugar sector and stay ahead of emerging trends shaping the future of the industry.You may submit your article on info@sugartimes.co.in if you have valuable contributions for the industry readers.
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