White Diamond Industries gets nod to form subsidiary company

18 Nov 2011 Evaluate

White Diamond Industries has received an approval to make a 100% subsidiary company, for the diversification and further growth of the company. The board at its meeting held on November 16, 2011 has approved for the same. Further, managing director has been assigned the power to decide and complete necessary formalities for formation of the said subsidiary company.

Also, the company has received board's approval to increase the authorized share capital of the company from Rs 10 crore to Rs 12.50 crore.

White Diamond Industries commenced operations by installing a Laser Sawing Machine in Mumbai for undertaking job work of kerfing of rough diamonds. The company is currently engaged in the activities of manufacturing, trading, import and export of rough and cut and polished diamonds.

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