Flawless Diamond discusses expansion plans

Flawless Diamond India Ltd has announced that the Board of Directors of the Company at its meeting held on November 09, 2006, has transacted the following:

Board of Directors has decided in the meeting that due to expansion in the business the board feels the requirement of a strong board of the Company which will help the board to took after day to day affairs of the Company.

Further the Managing Director Mr. Bhawar U Jain proposed to induct Mr. Gautam Banerjee and Mr. Rajiv Kamdar on the Board of Directors. They are both well experienced in their respective fields. Mr. Gautam Banerjee is having experience in Jewellery Design and manufacturing and Mr. Rajiv Kamdar is well experience in sates and marketing.

Further Mr. Gautam Banerjee is willing to take one 1% equity shares (52900) in Company and Board of Directors has approved the same. This equity will be issued as per SEBI rules and regulation and formalities will be completed as early as possible.

Source : Equity Bulls

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