Virat Crane to demerge its real estate business
Friday, April 18, 2008Virat Crane Industries has obtained the in-principle approval of the exchange for the demerger of its real estate / infrastructure division into Crane Infrastructure and amalgamation / merger of Durga Dairy with Virat Crane Industries.
The demerger scheme envisages a share issuance of 1 shares of demerged entity namely Crane Infrastructure for every 1 share held by the existing shareholders of the company.
The demerger of real estate / infrastructure division and amalgamation / merger of Durga Dairy with the vompany will take effect after obtaining the order of Honorable High Court of Andhra Pradesh, Hyderabad. The company has initiated the process with reference to the court approval.
Recent Corporate Earnings / Breaking News
- Wipro appoints joint CEOs for IT business
- Shoppers Stop wins emerging market retailer of the...
- KEC International wins Power Grid contract
- Aban Offshore contract with Exxon Neftegas
- Infosys Guidance for FY2008-09
- Infosys Results for FY2007-08
- Punj Lloyd bags Rs 1864 crore order
- Sasken to consider buyback
- Inflation at 40 Mth High
- Profit Growth Will Dip - Will the Market?
