Promoter of UFlex Limited, Ashok Chaturvedi was sentenced to four years in prison by a special CBI court, in a case of bungled land allotment in Noida. Former UP chief secretary Neera Yadav was also sentenced similarly.
UFlex is a packaging company and has recently benefited from the massive upsurge in polyester film prices, taking their profits up to 202 cr. in the Sep quarter, and 263 cr. for the half year. With the diluted EPS at Rs. 37 for the half year, they even projected an 800 cr. profit figure for the full year.