Simbhaoli Sugars Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 24, 2011, inter alia, have considered and approved the following decisions:
1. Business restructuring involving the following::
a. Transfer of the Potable Alcohol Business comprised in Simbhaoli Distillery Division of the Company to a subsidiary Company as per terms and conditions mentioned in the Scheme of Arrangement subject to the requisite consent and approvals under the provisions of sections 391 to 394 of the Companies Act, 1956.
b. Transfer and vesting of the Power Business comprised in Co-generation Divisions to a subsidiary Company for expansion in the exportable power generation capacities subject to the requisite consent and approvals under the provisions of the Companies Act, 1956.
2. Appointment of Ms. Gursimran Kaur Mann as an additional Director on the Board of the Company.
Sensex
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Thursday, March 24, 2011
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