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| Exchange Disseminated Time 19/12/2016 13:36:12 | Nitin Alloys Global Ltd has informed BSE that the Meeting of the Board of Directors of the company was held on December 19, 2016, has transacted following business:
The Company has taken on record the Scheme of Arrangement ('the Scheme') for demerger of the Casting Business of Nitin Castings Private Limited ('the Demerged Company' or 'NCPL') into Nitin Alloys Global Limited (’the Resulting Company' or 'NAGL') and made the Scheme effective from December 15, 2016.
Further, to give effect to the above matter and other related matters to the Scheme, the Company has authorised the "Sub Committee" and other identified persons to apply, file, sign, execute, admit, registration, etc and / or take the steps / actions, as may be required in this regard for and on behalf of the Company. |
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