Avanti Feeds: Outcome of board meeting
We would like to inform that the Board of Directors of our Company at its meeting held on August 11, 2017.
1. Approved the Un-audited Financial Results for the Quarter Ended 30.06.2017.
2. Approved extending corporate guarantee to Banks for working capital facilities of Rs.134.90 crores (including existing term loan of Rs14.90 crores) to be sanctioned by Banks to our subsidiary, Avanti Frozen Foods Private Limited.
3. Appointment of Sri Siddharth Jain, IAS, Vice Chairman & Managing Director, APIDC as Nominee Director w.e.f. 22nd July 2017 in place of Sri Kartikeya Misra. IAS.
4. Approved creation of additional capacity of 175000MT at Shrimp Feed Plant at Bandapuram, West Godavarai District, Andhra Pradesh.Source : BSE