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“Best Sugar Cane Development Award” for the season 2011-12 in Andhra Pradesh state from SISTA (South Indian Sugarcane & Sugar Technologists’ Association).
   
The Board of Directors of the Company at its meeting held on April 25, 2012 have approved a Scheme of Arrangement (Demerger) pursuant to which the Sankili and Haliyal undertakings of the Company will be demerged into the Holding
  Company, EID Parry( India) Ltd. (EID Parry) w.e.f. April 01, 2012. This is subject to various statutory and regulatory approvals. Upon this Scheme becoming effective, EID Parry shall issue equity shares of EID Parry to the shareholders of the Company in the ratio of 5 (Five) equity shares of Re. 1/- each fully paid for every 19 (Nineteen) Equity Shares of Rs. 10/- each fully paid held by them in the Company.
   
As per the Share Purchase Agreement dated 25.04.2010 (SPA) between M/s E.I.D. – Parry (India) Ltd., (EID Parry) and M/s GMR Holdings Pvt. Ltd. (GHPL), EID Parry have acquired 10542993 Equity shares and 12831880 non-cumulative 8% preference shares of the Company from GHPL. EID Parry has also acquired 2432117 Equity shares (12.18%) through open offer. EID Parry holds 12975110 Equity shares representing 65% of the paid up and issued Capital of the Company and the Company has become a subsidiary of EID Parry w.e.f 27th August 2010.
   
Mr.V.Ravichandran; Mr.N.Srinivasan and Mr.K.Ramadoss have been appointed as Additional Directors w.e.f 27th August, 2010.
   
Mr.A.Sankara Rao, Executive Director; Mr.Viswanath Prasad Singh, Director; Mr.Uday M Chitale, Director; Mr.T.C.S.Reddy, Director-Technical and Mr.R.Ramakrishnan, Managing Director have tendered their resignation.
   
Mr.S.Sandilya has been elected as Chairman of the Board in place of Mr.K.Balasubramanian Mr.D.Kumaraswamy has been appointed as Managing Director for a period of 3 years with effect from August 28, 2010.
 
Ms. G.Jalaja has been appointed as Chief Financial Officer of the Company
 
Registered office of the Company would be shifted from No.25/1, SKIP House, Museum Road, Bangalore-560025 to No.60, 1/ 2, Kalyanamantapa Road, Jakkasandra, Koramangala, Bangalore-560034 with effect from 1st September, 2010.
 
The name of the company has been changed to Parrys Sugar Industries Limited with effect from November 15, 2010
 



 
 
 
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