With reference to the earlier letter dated August 14, 2015, Crompton Greaves has informed that the Honorable High Court of Judicature at Bombay has on November 20, 2015 approved the Scheme of Demerger of the Consumer Products Business Unit of the Crompton Greaves (CG) into CGs wholly owned subsidiary Crompton Greaves Consumer Electricals (CGCEL). This Scheme was approved by the Shareholders of the CG at the Court Convened Meeting held on August 13, 2015. Upon the effective implementation of the Scheme, CGCEL will issue and allot to the shareholders of CG as on the record date to be fixed, one fully paid up equity share of Rs 2 each for every one equity share of Rs 2 each held in CG. The Scheme shall be effective from the Appointed Date i.e. October 01, 2015, upon filing of the Certified Copy of the Order of the Hon’ble High Court, sanctioning the Scheme, with the Registrar of Companies. Upon receipt of the Certified Copy of the Order, the Company shall notify the Stock Exchanges and also upload the said order on the website of the Company.
The above information is a part of company’s filings submitted to BSE.
