Held on 10 October 2016
Punjab Chemicals & Crop Protection announced that the Board of Directors of the Company in their meeting held on 10 October 2016 concluded at 10.45 a.m. approved, inter alia, to utilize the overdue export proceeds of Euro 34,76,978 and USD Rs. 87,500 valuing Rs. 25,94,19,394/- as per the prevailing exchange rate at the time of post facto approval from the RBI, from SD Agchem (Europe) N.V, Belgium, a wholly owned subsidiary of the Company, by capitalising the export proceeds by acquiring shares in the Company's step down subsidiary viz. Sintesis Quimica SAIC, Argentina, in accordance with the approval received from Reserve Bank of India dated 31 March 2016.Powered by Capital Market - Live News
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