STOVEC INDUSTRIES LTD. - Intimation Of Termination Of Contract Manufacturing Agreement

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10 Nov 2020
This is to inform you that the Company has received a notice today from Atul Sugar Screens Private Limited ('Atul') intimating termination of the Contract Manufacturing Agreement entered into with the Company in April 2018 for manufacturing the sugar sieves for Atul. The termination process and procedure are under discussion and finalization including the closing date which shall be such as may be mutually agreed between the parties. The aforesaid transaction does not fall into the materiality criteria as prescribed in the Policy for determining material information of the Company framed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, yet it has been decided to disclose by way of good corporate governance in the interest of shareholders and other stakeholders as this will be closure of one line of business activities of the Company.
View all announcements for STOVEC INDUSTRIES LTD.	Source: BSE India

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