Tivoli Construction's board approved significant strategic moves.

It re-appointed Independent Director Sagar Jyot Rupani for another five-year term and appointed M/s. M.R. Sharma & Co. as new statutory auditors, both pending shareholder approval.

Crucially, the board also cleared the sale of its entire 100% stake in Victoria Investments Company Ltd., a material subsidiary, to an unrelated third party.

Victoria contributed 2,08,860 to income and 2,43,36,630 to net-worth for the last financial year.

This divestment, also subject to shareholder approval, marks a key change for the company's structure.