Gemmia Oiltech (India) Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 14, 2014, inter alia, has considered, decided and approved the following:
- It has been decided mutually that EPC - In the areas of Oil and Gas and its allied business division of Naftogaz India Private Limited would be transferred to Gemmia Oiltech (India) Limited through a Business Transfer Agreement or through the process of Merger and Acquisition. A Committee consisting of Mr. A. Srinivas, Director and Mr. Arunagiri, Director, has been formed to obtain valuation report and consideration for the same. The Committee may report to the Board on the same once the Valuation report is received by it.
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