Campco turns autonomous body

The Central Arecanut and Cocoa Marketing and Processing Co-operative (Campco) has now become an autonomous body by returning the share capital of Karnataka government (Rs 3.83 crore) and the Kerala government (Rs 89.30 lakh).

Both the governments have been asked to withdraw their nominated directors, L N Kudur, Campco president told Business Standard.

Madhusudhan Rao, deputy general manager (accounts) has been appointed as the managing director of Campco.

"Who will occupy the post of secretary will be decided at Campco's AGM being held on September 30" he said adding that both the governments cannot interfere in Campco affairs.