Nelcast has informed that S. Radhakrishnan, managing director submitted his resignation letter and the same has been accepted by the board at its meeting held on March 14, 2012. Further, the board proposes to appoint P. Deepak as managing director with effect from July 01, 2012. The formal appointment and the terms of contract will be approved in the next board meeting.
P. Vijaya Bhaskar Reddy, deputy managing director will hold additional charge of the duties of managing director till June 30, 2012.
The above information is part of company’s filing submitted to the BSE.
