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Stock Report
Ceat equity shareholders approve Scheme of Arrangement
Posted On : 2007-07-29 00:19:11( TIMEZONE : IST )
Ceat Ltd has announced that pursuant to the order made by the High Court of Judicature at Bombay, the meeting of the equity shareholders of the Company held on July 27, 2007 have approved the Scheme of Arrangement between the Company and CHI Investments Ltd. Under this Scheme, the Investment Undertaking is proposed to be transferred to the said Company and will enable the Companies to optimize their independent performance by concentrating on their core competencies and enhance Value for the shareholders, with requisite majority.
