Manpasand Beverages hit the 5% UC at Rs.12.85, which was also its 52-week low.
Yesterday late evening, the company said that its CMD, Dhirendra Singh has contested the outcome of the 6th Sept Board meeting due to the manner in which the meeting took place and due to the fact that non-board members were participating actively.
The company also clarified that the promoters have no plans to sell any stake.
The Board also taken a decision to appoint Batliboi as its statutory auditors. In fact it was Batliboi which suspected a fraud prompting the board to order a forensic audit.