Share price of Mcleod Russel rose 2.5 percent intraday as the company is going to sell its loss making unit.
The company has decided to dispose of its Bhatpara Tea Estate, a loss making unit of the Company in Dooars, subject to necessary approval/s.
On August 23, 2017 the company has entered into an agreement for sale with Voom Food Industries of Siliguri, West Bengal.
The company will receive around Rs 13.21 crore from sale and the sale process will get completed after the sale permission is obtained from the government of West Bengal.
Infosys is in initial stages to appoint selection panel to oversee selection. The panel, which aims to complete process within 4 months, is also in charge of overviewing board composition.
Search panel may have founders, board members & independent business leaders, sources said.
Its 10 key clients expressed their concern in writing on what lies ahead in terms of operations. They sought clarity on CEO succession & operational changes and also sought clarity on issue with founders and the way forward.
Sources said chairman R Seshasayee & co-chair Ravi Venkatesan will move on only after situation is stable.
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