Dynavision Ltd to invest in Dynavision Green Solutions Ltd

The Board of Directors of Dynavision Ltd at its meeting held today, which commenced at 2.00 pm and concluded at 3.35 pm, has approved the Equity Investment into wholly owned Subsidiary, M/s. Dynavision Green Solutions Limited (DGSL) to the extent Rs. 9 crores.

The board also approved proposal for entering into EPC business and for that purpose enter into contracts with Subsidiary (DGSL) as EPC contractors for Aruppukottai Solar Power Project 6MW at the Cost of Rs 31,79,99,657/- exclusive of Taxes and Duty and to enter into Sub-contracts for the above on back-to-back basis with other vendors / contractors with cost not exceeding the cost awarded by the subsidiary.

The board appointed Mr. A. Sudheer Reddy as Additional Director (Executive Director) (DIN:07184171) and appointed Company Secretary of the Holding Company to act as the Company Secretary of DGSL, Subsidiary. 5. Appointed Chief Financial Officer of the Holding Company to act as the Chief Financial Officer of DGSL, Subsidiary.

Source : Equity Bulls

Keywords

Dynavision Investment DynavisionGreenSolutions EPCBusiness