ALSO READAmbuja-HIPL merger effective from today: ACC Ambuja Cements gains after Cabinet nod to buy 24% stake in Holcim (India) Ambuja Cements Q2 Net up 77% at Rs 399.51 cr ACC, Ambuja Cements edge higher on LafargeHolcim's divestment in Lafarge India Govt allows Ambuja Cement to acquire 24% stake in holding firm
IAS) has been appointed to fill up the casual vacancy which has been created due to Singhvi's resignation, FTIL said in a BSE filing. The Board of Directors of 63 moons technologies Ltd (formerly FTIL) today announced that Singhvi has decided to step down as Non-Executive Director to work towards empowerment of minority shareholders, the company said. Singhvi, who was appointed as non-executive director in November 2014, is Chairman of Ican Investments Advisors and has over 30 years of experience in corporate sector, including with Ambuja Cements. FTIL is in crisis following the Rs 5,600-crore payment default at its subsidiary National Spot Exchange Ltd (NSEL) in August 2013 affecting 13,000 investors. Earlier this year, the government had ordered merger of the scam-hit NSEL with its parent FTIL. The merger will allow for settlement of Rs 5,600 crore in dues of the now-defunct exchange.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)