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Suashish Diamonds Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 25, 2008, inter alia, has transacted the following business:

1. Investment in 8% Non-Cumulative Preference Share Capital of Suashish Diamonds (Hong Kong) Ltd, wholly owned overseas subsidiary (WOS) of the Company upto an overall amount not exceeding USD 5.00 million on mutually agreed terms and conditions.

2. Taking Note of receipt of Trade License cancellation certificate in respect of Ishis Jewellery, L.L.C., Dubai, which ceased to be a subsidiary of the Company following its closure.

Tags: Suashish Diamonds

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