OCL India to demerge Steel and Real Estate Operations into separate companies

OCL India Ltd has announced that the Board of Directors of the Company at its meeting held on January 18, 2007, inter alia, has given in-principle approval for the demerger of (i) Sponge Iron & Steel; and (ii) Real Estate Operations of the Company into separate Companies and authorized Shri. Y H Dalmia, Director of the Company, to prepare the schemes for the demerger in consultation with the experts and place the same before the Board in its next meeting for consideration and approval.

Source : Equity Bulls

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