SRM Energy gets nod to divest Power Plant

10 Mar 2015 Evaluate

SRM Energy has received an approval for sale/ dispose off the Power Plant transferred in its Wholly Owned Subsidiary ‘SRM Energy Tamil Nadu’ subject to the necessary approvals from the shareholders and other statutory authorities, if any. The board of directors at their meeting held on March 09, 2015 have approved for the same.

The board has also authorized the Managing Director of the company to do all the deeds and acts as may be deemed necessary and also to take requisite step for the sell/ dispose-off the aforesaid Power Plant in Wholly Owned Subsidiary, including finding buyer/s, giving requisite mandates.

SRM Energy was incorporated as a Public Limited Company under the name of Hitkari Fibres. The company is involved in manufacturing non-woven fabrics, mostly automotive moulded car carpets and blankets.

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