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GUJARAT APOLLO INDUSTRIES LTD. - Outcome of Board Meeting
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14 Feb 2015
Gujarat Apollo Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 14, 2015, inter alia, has transacted the following:&lt;BR&gt;&lt;BR&gt;1. Apollo fBC Crushing Equipments Limited, a wholly owned subsidiary, promoted by GAIL has entered into a Technical License Agreement with fBC Brazil, to manufacture crushing equipment namely Jaw Crushers and Cone Crushers, used for highway, infrastructure and mining sector. It has been noted that Company&apos;s Dholasan Plant is now ready for manufacturing this product line;&lt;BR&gt;&lt;BR&gt;2. The Company holds 26% shares in Credo Mineral Industries Limited (CMIL). CMIL has come up with Right issue of Face Value of Rs. 10/- each at a premium of Rs. 90/- per equity share. In order to maintain the holding of 26%, the Board of Directors has decided to subscribe the Right issue offered by CMIL;&lt;BR&gt;&lt;BR&gt;3. Central Road Research Institute (CRRI) has selected GAIL to transfer the technology developed by them for Mobile Bridge Inspection Unit which indeed is a privilege. The Board took note of the same;&lt;BR&gt;&lt;BR&gt;4. The Board has decided to discontinue with the Fixed Deposit Scheme and repay all the outstanding deposits along with interest due on or before March 31, 2015.
View all announcements for GUJARAT APOLLO INDUSTRIES LTD. Source: BSE India