Coromandel International has informed that A. Vellayan has informed the Company that in keeping with the values and tradition of the Murugappa Group, he is stepping down as Chairman of the Company, consequent to the interim order of SEBI dated May 02, 2015, purporting to link him with the alleged insider trading by certain individuals in the shares of Sabero Organics Gujarat, a Company acquired by Coromandel International in May 2011. He will continue to be a member of the Board of the Company.
The above information is a part of company’s filings submitted to BSE.
