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| Exchange Disseminated Time | | Munjal Auto Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 10, 2005, inter alia, has unanimously resolved that the Binola Unit of the Company at Gurgaon (Haryana), which is engaged in forging / machining activities for the auto industry, be demerged into a separate Company - Shivam Autotech Ltd (a recently incorporated Company) and the residual Company i.e. Munjal Auto Industries Ltd continue to carry on the business of sheet metal components at Waghodia (Vadodara). A Committee of the Board of Directors has been empowered to finalize the detailed demerger process on the basis of broad guidelines given to it by the Board of Directors. |
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