The board has accepted the resignation of N K Jagasia, chairman of the company and in his place K P Singh, nominee of Tata Projects has been appointed as non-executive chairman of the company.
The board has appointed N K Jagasia as non-executive vice chairman of the company.
The board has accepted the resignation of R S Medhi as director as well as whole-time director of the company.
Further, the board has allotted 2,76,90,000 equity shares of Re 1 each to Tata Projects (strategic investor).
This was decided at the board meeting held on 04 January 2008.
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