Outcome of board meeting of Tamil Nadu Petroproducts

Held on 03 November 2015

Tamil Nadu Petroproducts announced that the Board of Directors of the Company at its meeting held on 03 November 2015, inter alia, took note of the termination of the Joint Venture Agreement in respect of Petro Araldite (PAPL) consequent to the sale of shares held by the Company, surrender of sub-lease of the land by PAPL and transfer of its plant assets to TPL.

Board also accorded its 'in principle' approval to consider proposals for putting to use the said assets for manufacture of other petrochemicals and take further steps in this regard.

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