Madhav Marbles And Granites Limited has informed that the board of directors of the company at its meeting approved incorporation of a subsidiary company to enter into new business of manufacturing and processing of Quartz. Madhav Marbles and Granites Limited will invest to the extent of 51% of Share Capital in the proposed Subsidiary Company.

The Board has also authorized severally Mr Madhav Doshi, CEO and Managing Director and Mrs Riddhima Doshi, President to execute on behalf of the Board all necessary documents/agreements and to do such other acts which are required for incorporation of the subsidiary company.