Hitech Plast to lease PPMF unit

Hitech Plast Ltd has announced that the members of the Company by way of Postal Ballot, have approved the following resolutions with requisite majority.

1. Authority to the Board for sale, lease, disposal or otherwise of the Plastic & Precision Machinefabrik (PPMF) Unit at Sarigam, to Clear Plastics Ltd for a consideration not exceeding Rs 40 million, subject to the approval of shareholders pursuant to Section 293(1) (a) of the Companies Act, 1956.

2. Shifting of the registered office from Sanaswadi, Pune to Mumbai, subject to the approval of shareholders and confirmation from Regional Director, Ministry of Company Affairs, Western Region, Mumbai.

Source : Equity Bulls

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