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The board of directors of Coastal Corporation has approved the investment of Rs 1 crore in equity shares of Sea Gold Aqua Farms India Pvt Ltd under the limits prescribed in the Companies Act, 2013. The board has also identified the investors for issuing the forfeited equity shares of the company.
The board also approved the resignation of Dilip Anant Biwalkar,Director, from February 7 and appointed Swaroopa Meruva, as Company Secretary and Compliance Officer of the Company.
Shares of Coastal Corporation jumped 5 per cent to Rs 25.60 on the BSE at open.
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