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Redington India Ltd has informed BSE that Mr. R Vijayaraghavan, an independent Director and the Chairman of the Audit Committee of the Company, has communicated his decision to resign from the Company’s Board by the close of day on May 31, 2008. The Board of Directors at their meeting held on June 03, 2008, has considered the resignation of Mr. Vijayaraghavan and taken the same on records.

Further the Company has informed that, the Board of Directors has also approved formation of a new subsidiary in Cayman Islands and make investments upto US $ 1 Million in the share capital of the new subsidiary.

Tags: Redington India

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