The existing board of Shurwid Industries has decided to hand over the company's management to Eurodesh Group due to failure to run the company amid crisis of gas and electricity.
In this regard, a draft agreement was approved July 27 in a meeting of existing board of directors.
As per the company's decision, the board led by engineering Mahmudul Hasan will take the company's responsibility from the existing board led by Anis Ahmed.
“Due to crisis of power i.e sufficient supply of gas and electricity our production was seriously hampered and comprehensive loss was incurred,” according to a public statement made on behalf of Zahedul Haque, managing director of Shurwid Industries.
"For this reason, the board of directors of Shurwid Industries has decided to sign an agreement with Eurodesh Group that the management of Shurwid Industries Limited will be handed over to Eurodesh Group," the company's public statement said.
In this connection, in the 111th board meeting which was held on July 27, 2017, the draft agreement was approved by the board of directors, the company said.
A conflict regarding legality of running the company by two groups arose before two years and six months ago.
Both the groups then arranged press briefing demanding their legality in running the company. They also sought the interference of the securities regulator.
Shurwid Industries, a 'Z' category company, was listed with both the bourses in 2014.
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