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| Exchange Disseminated Time | Minda Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 11, 2014, inter alia, has transacted the following:
- Approval for Hiving off of Battery Division through Postal Ballot
1. The Board of Directors of the company has unanimously approved the matter relating to hiving off of the running business of Battery Division of the Company, located at Pant Nagar, Uttrakhand to a prospective joint venture between Minda Industries Ltd. and Panasonic Corporation, subject to requisite approvals.
The Postal Ballot Notice, as approved by the Board of Directors, is to be sent to the shareholders of the Company or before November 25, 2014, as the Activities Schedule, prepared for this hiving off. |
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