Avon Lifesciences has informed that the Company’s Whole-time Director, Manoj Jain, has been remanded to Police Custody in connection with a Drug Seizure case, which the Company have intimated to the Stock Exchange on April 18, 2016. As a matter of abundant caution, pending investigations, the Company is accepting his resignation from the Board of Directors with immediate effect. Once the investigations are complete, the Company will review his re-appointment, based on facts that would emerge at a appropriate date. In the meanwhile, the company continues to cooperate fully with the ongoing investigations by various agencies.
The above information is a part of company’s filings submitted to BSE.
