In a bid to diversify working of the group into media and entertainment sector, Oswal Agro Mills along-with its associate Company -- Oswal Greentech -- has acquired controlling stake of 51% in Newsnation Network. Accordingly, after obtaining due approvals from Govt. of India, the Board of Directors of Newsnation Network stands reconstituted.
During the year Company was mainly engaged in investment activities. On the real estate development business, the company entered into a joint development agreement for the development of its land at Chembur with Oswal Chemicals & Fertilizers and has obtained necessary Government approvals.
