Himalya International - Outcome of Board Meeting
Himalya International Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 14, 2008, inter alia, has transacted the following:
1. The Company was actively engaged in the remaining expansion work on compost division, mushroom growing, Appetizer and breaded line, Yogurt division and modernization of existing facilities The expenditure incurred upto March 31, 2008 was approved.
2. During the quarter under review, the marketing division for domestic market was strengthened and new incumbents joined.
The Company had set up its stall in the AHAR festival celebrated at Pargati Maidan, New Delhi last month which attracted a large number of prospective buyers. The Marketing division has initiated dialogue with various chains. An agreement has been signed with “More” in additional to Reliance Retail already marketing our products. The work should be done more aggressively in order to create a name in domestic market.
3. The expansion work in different segments like compost expansion, mushroom growing, appetizer and breaded plant, yogurt were reviewed. The Board noted with satisfaction the progress being made adhering to the targets fixed for each project.
4. The Gujarat Unit project also came up for discussions. The progress regarding survey of area for the proposed Project was discussed. The response from the State Government for implementing the Mushroom and Appetizer and breaded line in Gujarat state was noted with great satisfaction.
Further Mr. M M Malik, CMD was authorized to negotiate selection / purchase of land with a view to going ahead with the construction work. It was also proposed and resolved that Mr. M M Malik be and is hereby authorized to arrange finance from Bank(s) or other financial institution(s) for this Project and also to execute documents, affix seal of the Company or any other work relating to raising of the funds.
Tags: Himalya International