Bengaluru-based flower producer, exporter and retailer Karuturi Global has announced that the company has approved the exit of Anil Tumu from the promoter group of the company. The decision was taken by the board of directors of the company after its meeting held on March 23, said the company in its latest disclosure to Bombay Stock Exchange. This change in the promoter group will be effective from March 23, 2009.
The company further said in its disclosure that the development is based on the specific request made by Tumu citing personal reasons for not continuing as the promoter of the company.
It may be recalled that Tumu had opted not to get re-elected as the director of the company at the last annual general meeting of the company held on September 26, 2008.
The company currently operates 15 shop-in-shops in Bengaluru and two boutique stores, one each in Bangalore International Airport, Bengaluru and Jubilee Hills, Hyderabad.