Videocon Inds plans coal mining, power biz

Videocon Inds plans coal mining, power biz

The board of directors of Videocon Industries, which met today, approved a proposal to get into the businesses of generation and transmission of power, and mining coal and other minerals.

According to a release issued to the BSE today, the meeting approved alteration of the main objects clause of the memorandum of association of the company by inserting additional clauses relating to:

a. carrying on business of generation and supply of power; and

b. carrying on business of minerals and fuels and source of minerals and fuel, including mining block or mining rights for mining of minerals, including coal or other substance.

The company will now seek shareholders’ approval for the above proposals via a postal ballot, the release added.

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