Welspun India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 23, 2009, inter alia, has transacted the following:
1. Decided to convene an extra-ordinary general meeting of the Company for obtaining shareholders approval for further issue of securities upto an amount equivalent of US$50 million.
2. Noted that as a demerged Company of the Company viz. Welspun Global Brands Ltd. has appointed Mr. Rajesh R. Mandawewala as the Managing Director of the Welspun Global Brands Ltd., Mr. Rajesh R. Mandawewala ceases to be the Joint Managing Director of the Company but continues as a director of the Company.
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