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| Exchange Received Time 18/07/2018 13:37:35 Exchange Disseminated Time 18/07/2018 13:37:45 Time Taken 00:00:10 | Pursuant to the Regulation 29 of SEBI (Listing Obligation and Disclosure Requirement) Regulations 2015 notice is hereby given that the meeting of the Board of Directors of our Company is scheduled to be held on July 26, 2018 i.e. on Thursday at 4.00 p.m. at the Registered Office of the Company at 5/6 Papa Industrial Estate, Suren Road, Andheri (East), Mumbai: 400093 to consider inter alia the following businesses:
1. The company wants to consider divesting up to 49% stake in its Wholly-owned subsidiary M/s. E-Class Education System Limited to various potential investors in order to raise funds to reduce its debt obligations as well as to fund its growth requirements.
The Divesture up to 49% stake in its Wholly-owned subsidiary will lead to business growth and reduction of debts making the company's fundamentals strong. Post divesture M/s. Sundaram Multi pap Limited will continue to hold 51% stake in its subsidiary i.e. M/s. E-Class Education System Limited.
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