Held on 06 November 2014
Magma Fincorp announced that the Board of Directors of the Company at its meeting held on 06 November 2014, have decided to exit the line of business comprising of the Gold Loans originated by the Company which line of business involves the grant of terms loans to individuals and/or small businesses (whether constituted as a company, a partnership firm, a sole proprietorship or otherwise) against the security of gold ("Gold Loans") and the Board further authorized the Management Committee of the Board of Directors of the Company to do all such acts, deeds and things as may be necessary or expedient to implement the above decision in the manner as the Management Committee of the Board of Directors may deem fit.Powered by Capital Market - Live News
