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Maral Overseas Closes Jammu Unit of the Company
Posted On : 2007-03-19 09:32:50( TIMEZONE : IST )
With reference to the earlier announcement dated July 28, 2006 regarding the costs at the Jammu unit had increased to a persistently unviable level and that the activities at the unit had come almost to a standstill and consequently, the Management had to initiate steps towards restructuring, including substantive downsizing & reference to the earlier announcement dated November 02, 2006 regarding the Board of Directors of the Company approved an agreement regarding voluntary retirement scheme for the employees at Jammu Unit of the Company and that the Company was taking necessary steps to implement the scheme, Maral Overseas Ltd has announced that the voluntary retirement scheme has since been implemented. Consequently, the Jammu unit now stands closed. For this purpose, the necessary approval for closure of the unit has also been obtained.
