Gammon Infra board approves proposal to change name of company

The company said the board has also given consent to enter into an Inter-Corporate Deposit (ICD) Agreement with Vizag Seaport Private Limited, a material subsidiary of the company, to repay ICD amount together with interest due thereon aggregating to Rs 138.64 crore on or before April 30, 2021.

Gammon Infrastructure Projects on Wednesday said its board has approved a proposal to change the name of the company. "The Board of Directors of the Company, has at its meeting held on 4 August, 2020, approved for the change of name of the Company from 'Gammon Infrastructure Projects Limited' to 'Terrene Infrastructure Projects Limited' or 'Terraform Infra Projects Limited' or 'Vriddhi Infrastructure Projects Limited'," the company said in a regulatory filing.

Gammon said it is subject to approval of the shareholders, Ministry of Corporate Affairs and other statutory endorsements. The company said the board has also given consent to enter into an Inter-Corporate Deposit (ICD) Agreement with Vizag Seaport Private Limited, a material subsidiary of the company, to repay ICD amount together with interest due thereon aggregating to Rs 138.64 crore on or before April 30, 2021.