The company, after witnessing a prolonged dispute with striking workers over several issues, has received the Karnataka government's approval to close the factory.
Toyota has set up two manufacturing plants at Bidadi, about 35 km from here, with a combined capacity of 310,000 units a year.
He is nominated to the investment, innovation and audit committees.
If they encash shares, Dutch major Heineken will emerge as single largest shareholder in the company.
Kiran Kumar Grandhi, 38, was earlier in charge of the urban infrastructure and highways business, which contributes five per cent of the Rs 10,000-crore revenue of GMR Infra.
The new area expansion would help in increasing the production of silk from the present 23,000 tonnes per annum to 32,000 tonnes, a growth of 39 per cent.
This move to sell a part of its land holding in one of its SEZ is part of an overall move by GMR to exit some of its assets as part of its 'asset light -- asset right' strategy.
The company is already supplying coffee beans to cafes, instant coffee to Hotels, restaurants and catering segment, vending and various other establishments. Going forward, it plans to look at vending solutions on its own.
SBI, the country's largest lender, had recently issued public auction notices to sell Gopinath's pledged properties
It is currently scouting for suitable firms in Europe and planning to close the deal some time this year, a top company executive said.
The company will move swiftly to consolidate its recent acquisition of three distilleries and will also take a decision on setting up a Rs 650-crore two-furnace glass plant in Andhra Pradesh, said sources.
GMR Infra's exit from this project, expected this year, will mark the company's waning global presence after a very aggressive expansion.
It's already a home to automobile majors like Toyota, Volvo, Tata Motors and Mahindra Reva.
Britannia's foreign presence is low; share of global operations to total revenues is just 5-8%.
Share purchase agreement awaits Karnataka HC decision on Kingfisher creditors' plea.
However, even after finalising the multi-pronged cross-border Rs 11,165-crore deal in November 2012, Diageo's wait for acquiring a decent stake in India's leading whisky maker, United Spirits, seems to be getting longer and longer.
Coffee Day Group, which runs businesses from coffee cafes to wealth management to furniture to logistics, is understood to be readying the stage for a possible $100-million fund raise through the private equity route.
The Supreme Court's landmark decision to allow reopening of Category-A and Category-B mines in Karnataka has come as a big relief to the mining sector and the ore-starved steel industries in the state.
The company, started by three BITS Pilani graduates in 2005, could be planning to aggressively scale up its business to tap the untapped potential that the bus-booking service offers in India.
For the first nine months of the current financial year, net sales rose by close to 37 per cent to Rs 1,470 crore (Rs 14.7 billion( over the previous corresponding period, while operating profit increased by another 37 per cent to Rs 322 crore (Rs 3.22 billion).
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