Management has transferred major Chemical business operations to WOS GBL Chemical Limited.
(It seems to be an Indirect demerger of business)
Considered and recommended for approval of the shareholders at the ensuing 34th Annual General Meeting (aCM) conducting the chemical business between the parent company - Ganesh Benzoplast Limited and its 100% subsidiary (Wholly Owned Subsidiary) GBL Chemical Limited, without transferring any immovable property owned by the company.
Under this arrangement, the purchase of raw material necessary for the manufacfure of the chemicals and the sale of finished chemical products will be handled by the WOS namely GBL Chemical Limited and the parent company (Gariesh Benzoplast Limited) will continue to carry on the manufacturing of chemicals on job work, exclusively for the WOS (GBLChemical Limited).
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