Pokarna has informed that Gautam Chand Jain, Chairman & Managing Director of Pokarna, has been appointed as the Managing Director of the wholly owned subsidiary, Pokarna Engineered Stone (PESL), for a period of five years with effect from November 07, 2016 to November 06, 2021. He will continue to be Chairman & Managing Director of Pokarna. Pursuant to the terms of approval of CDR cell, for exit of wholly owned subsidiary, PESL, details of which were communicated vide intimation dated October 28, 2016, to the Stock Exchanges, Board of Directors and Shareholders of PESL has approved the issue of 1,60,00,000 Non-Convertible Debentures (NCDs) by PESL to its consortium lenders (i.e. Indian Overseas Bank, Union Bank of India & Bank of India).
The above information is a part of company’s filings submitted to BSE.
