Welspun Syntex has informed that the Board of Directors of the Company at its meeting held on September 09, 2015, took note of the fact that Rajesh R. Mandawewala, Promoter of the Company, has filed an intimation with the stock exchanges to acquire 65.15% equity stake in the Company through an entity entirely held by him by way of inter-se promoter transfer from Krishiraj Trading Limited and Welspun Mercantile Limited. The Board also noted B. K. Goenkas intention to step down as Chairman and Director of the Company which is subject to completion of the aforesaid transfer of shares.
The above information is a part of company’s filings submitted to BSE.
