Balkrishna Industries considers demerger proposal

Balkrishna Industries Ltd has announced that the Board of Directors of the Company at its meeting held on May 02, 2007, has deliberated and reviewed the Draft Scheme of Demerger and decided, in principle, to transfer the Paper business & Textile business through a Court approved scheme.

However, the Board sought additional information before approving the Scheme and it was decided to take up the proposal in the next Board Meeting with all the additional information as sought by the Board.

Source : Equity Bulls

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