Why uflex cracking??
Uflex Limited has informed the Exchange that CBI Special Court at Ghaziabad (U.P.) has held Mr. Ashok Chaturvedi, Chairman & Managing Director of the Company, guilty in his individual capacity in connection with a case relating to the allotment of land by Noida Authority in 1995 for Companys employees housing. The said land do not relate to the Companys use. The Company understand that Mr. Ashok Chaturvedi is taking appropriate legal steps in the matter. The above conviction is in his personal capacity, therefore, there will not be any financial implication on the Company. UFLEX is a Board run professionally managed Company and its business & operations continue to be on strong footing and run as usual.