The Board of Directors ('Board') of Amtek Auto at their meeting held on 23 June 2017, discussed the issue of the Company falling under the Insolvency and Bankruptcy Code, 2016 ('IBC Code'), pursuant to the instructions by Reserve Bank of India (RBI) to the Banks under the said IBC Code, for the purpose of coherent and speedy resolution of Company.
Further, The Board of Directors of the Company inter alia, has approved the following items with requisite majority:
a)Resignation of John Ernest Flintham, Vice-Chairman and Managing Director of the Company w.e.f. 23 June, 2017 due to his unavoidable circumstances.
b)Resignation of Sanjiv Bhasin , Independent and Non-Executive Director of the Company w.e.f. 23 June, 2017 due to his unavoidable circumstances. |