Murudeshwar Ceramics (MCL) has received approval for purchase of shares of RNS Power (a Group Company). The main object for purchase of shares of RNS Power (RNSPL) to become a Captive Buyer of power (Captive user) under the Electricity Act, 2003 read with the Electricity Rules, 2005.
Before this transaction for purchase of equity shares, MCL is holding 6.14% of equity shares in RNSPL and after purchase 237200 equity shares of RNSPL, the total holding will be 26.10% of equity shares of RNSPL as require for becoming Captive Buyer of power (Captive user) under the Electricity Act, 2003 read with the Electricity Rules, 2005. Moreover, RNSPL will be considered as an Associate Company of MCL in term of section 2(6) of the Companies Act, 2013.
Murudeshwar Ceramics is the pioneer in manufacturing world class Vitrified tiles and Ceramic tiles under the brand name ‘NAVEEN’.
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Cera Sanitaryware | 7060.85 |
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Pokarna | 501.75 |
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