The Foreign Investment Promotion Board (FIPB) has recommended the proposal of Cals Refineries Ltd for Foreign Direct Investment worth Rs 1425 crore for the consideration of the Cabinet Committee on Economic Affairs (CCEA).
Cals Refineries Ltd. (BSE: 526652) ('Cals') and the Hardt Group ('Hardt') today announced a definitive agreement for Cals to acquire the Cenco and Atas refinery assets owned by affiliates of Hardt and currently located in the United States and the Turkish Republic of Northern Cyprus.
Kharafi Group will invest $150 million in a 100,000 barrels per day (bpd) coastal refinery being built by Cals Refineries Ltd , the Indian company said on Friday, the first such investment by a Kuwaiti firm
Please note that the Registrar and Transfer Agents (RTA) of the Company has been changed with effect from 15th July, 2015, the new RTA of the Company is:
MCS Share Transfer Agent Ltd
F-65, 1st Floor, Okhla Industrial Area
Phase- I. New Delhi – 110020
06/06/2011: FIPB recommends Cals Proposal for FDI worth Rs 1425 crore for CCEA Consideration in their meeting held on 20th May 2011
15/03/2011: Signed Agreement with Hardt Group, Austria for Purchase of CENCO and ATAS Refineries and Equity Investment
31/03/2010: Entered into tri-partite agreement with Haldia Development Authority and West Bengal Industrial Development Corporation (WBIDC), wherein WBIDC took over the land allotted to the Company and agreed to sub-lease the land to the company on compliance of certain terms and conditions
17/06/2009: Cals Refineries signs MoU signed with Bharat Petroleum Corporation (BPCL) for off-take of all products other than those required to be supplied to BP.
13/05/2009: Received environmental clea¬rance from the Union Ministry of Environment and Forests for 5.0 MMTPA capacity
Mr. Pranav Kumar, Non-executive Independent director has resigned from the Board due to his pre-occupation and inability to devote time.
Today (16th October 2017), in the Board Meeting, Mr. Gagan Singhal has been appointed Appointment as the Managing Director of the Company, subject to the approval of shareholder in the upcoming General Meeting for a period of three years. He is further appointed as the Chairman of the Board. Mr. Gagan Singhal is also identified/appointed as Key Managerial Personnel (KMP) of the Company, under section 203 (1) of the Companies Act, 2013.
Pursuant to section 149 of the Companies Act, 2013, read with Regulation 17(1) and 25 (6) of the SEBI’s Listing Regulations, the Board has appointed Mrs. Mansi Arora, as an additional Woman Director in Non-Executive Independent Category with effect from 16.10.2017.
Pursuant to section 149 of the Companies Act, 2013, read with Regulation 17(1) of the SEBI’s Listing Regulations, the Board has appointed Mr. Shailesh Singh, as an additional Director in Non-Executive Independent Category with effect from 16.10.2017.
Mr. Deep Kumar Rastogi, Whole Time Director (Executive Chairman) has resigned from the Board due to health concern for past few months.