Kinetic Motor to overhaul operations

The board of directors of Kinetic Motor are considering launching of new models, business restructuring, better fund management and higher levels of investment in the wake of good opportunities in two-wheeler market .

According to a release issued to the BSE, the company has been exploring and evaluating possibilities of strategic tie-ups, joint ventures and has been looking at various options for short term / long term financial resources from domestic / international market at appropriate time.

The board, which met on March 5, 2005, has approved a proposal to increase the authorised share capital of the company from the existing Rs 20 crore to Rs 35 million, subject to consent of shareholders.

"The board has also decided to extend the current accounting year of the company by six months so as to close on September 30, 2005, subject to necessary approvals," the release added.