The Board of Directors of Oricon Enterprises Limited at their meeting held on February 14, 2017, decided to setup a manufacturing unit to manufacture new packaging products in the State of Odisha with the expected investment of about INR 1,000 million in two phases. The total investment will be made from internal accruals.

The Board of Directors also approved resignation of Mr. Karthik   Athreya, Director of the company from the Board of the company with immediate effect.