Vascon Engineers Limited announced that Vasudevan Ramamoorthy has been elevated as chairman emeritus of the company and will cease to be executive chairman and whole time director of the company with effect from June 01, 2021. The board of directors at its meeting held on May 31, 2021, and upon recommendation by nomination and remuneration committee approved elevation of Vasudevan Ramamoorthy as chairman emeritus of the company subject to approval of shareholders of the company. Vasudevan Ramamoorthy will not be a part of the board. V Mohan, non executive and independent director of the company will be appointed as chairman of the board with effect from June 01, 2021 in place of Vasudevan Ramamoorthy. Siddharth Moorthy appointed as member of audit committee and chairman of corporate social responsibility committee. Sowmya Iyer appointed as member of corporate social responsibility committee. V. Mohan is a fellow member of the Institute of Chartered Accountants of India. He is a practicing Chartered Accountant with more than three decades of experience in the areas of audit and assurance services, company law, tax planning, tax representations and foreign exchange regulations. He is one of the partners with V Sankar Aiyar and Company, Chartered Accountants, where he is a partner. He has been a director with Vascon Engineers Limited since March 6, 2007.
Vascon Engineers Limited is an India-based construction engineering company. The Company's segments include Engineering, Procurement and Construction (EPC), Real Estate Development, and Manufacturing and building management system (BMS). The EPC segment includes construction of residential, commercial, industrial and other constructions. The Real Estate Development segment is engaged in the development of residential, hotel premises and industrial park, among others. The Manufacturing and BMS segment includes manufacturing of clean room partition and BMS. Its projects include Redevelopment Project - Residential Project in Santacruz, Mumbai; Tulip Phase 3 - Residential Project in Coimbatore, Tamil Nadu; Forest Edge - Residential Project in Kharadi, Pune, and Forest County - Residential Project in Kharadi, Pune. The Company's subsidiaries include GMP Technical Solutions Private Limited, Almet Corporation Limited, Marvel Housing Private Limited, and Marathawada Realtors Private Limited.