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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 October 03, 2005, has approved a scheme of arrangement pursuant to which Binola Division of the Company at Dist Gurgaon, Haryana, which is engaged in "Forging and Machining", would be demerged into a separate Company M/s. Shivam Autotech Ltd.
Further the Company has informed that as per the advisory report of M/s. S S Kothati Mehta & Co., Chartered Accountants, the Capital Structuring of the two companies would be Rs 10,00,00,000/- each paid up. The existing capital of the Company of Rs 200 million will stand split accordingly. |
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