Hindustan Everest Tools has informed that the following decisions were taken in the meeting of the Board of Directors of the Company held on September 18, 2015 with respect to change of functional and operational management of the Company as Balgopal Mandelia, Vice-Chairman & Jt. Managing Director of the Company has been elevated to the post of Chairman & Managing Director in place of Shravan Kumar Mandelia who shall continue to be a Managing Director of the Company and Balgopal Mandelia shall assume control of all existing business of the Company with immediate effect and Shravan Kumar Mandelia shall explore the possibility of new business to further strengthen financial position of the company.
The above information is a part of company’s filings submitted to BSE.
