MIC Electronics Limited (BSE: 532850, NSE: MICEL), a global leader in the design, development, and manufacturing of LED video displays, has announced that its board has approved the proposal of acquisition of the companies engaged in the same/allied lines of business of the Company in order to expand the market presence, access new markets & technologies.
Further, the board approved the Appointment of Mr. Penumaka Venkata Ramesh as Additional Director of the Company in the Non-Executive Independent category for a term of 5 years, subject to approval of members.
Mr. PV Ramesh brings over 40 years of senior executive leadership across governments,
international organizations, and corporate enterprises in regions including Asia Pacific, Europe, and Africa. He has held key roles with the Government of India, Andhra Pradesh, UNOPS, UNFPA, IFAD, World Bank, and REC Ltd. Notably, as Chairman and Managing Director of REC Ltd., he doubled its profitability and raised significant funds in both domestic and international markets. Mr. Ramesh has extensive expertise in corporate governance, public and corporate finance, energy, infrastructure, and green financing. His leadership has been instrumental in advancing energy access and green energy initiatives. He has also advised major corporations, including Megha Engineering and Infrastructure Ltd., and continues to contribute as a visiting professor, advisor, and board member across various organizations.
Recently, the company announced that it has received a Letter of Acceptance from the Malda Division of the Eastern Railway Zone for the provision of CIB at Abhaipur station of Malda Division, Eastern Railway.