Binani Cement Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 22, 2011 have approved in principle the hive off of the captive power plants and related assets etc (Power Division) of the Company into a separate Company through a Scheme of Arrangement subject to all the necessary approvals and consents.
The detailed scheme of arrangement including inter-alia the effective date of transfer will be placed before the Board once it is finalized.
Sensex
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Sunday, April 24, 2011
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