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Gwalior Chemical Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 27, 2008, inter alia, has transacted the following:

1. Re-appointment of Statutory Auditors was considered and recommended for the approval of the Shareholders.

2. Re-appointment of Shri. K N Luhariwala & Shri. V P Biyani as Directors, who are liable to retire by rotation was considered and recommended for the approval of Shareholders.

3. Two new 100% Subsidiaries of the Company has been Incorporated as follows:

- GCIL Finance Ltd - NBFC - Application to RBI is in progress.
- Gwalior Chemicals LLC - Incorporated in USA, for trading activities.

Tags: Gwalior Chemical

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