Gammon India has informed that pursuant to the Investment cum Shareholders Agreement entered into between the Company, with Bilav Software Private Limited (‘Investor’) and Transrail Lighting Limited (‘TLL’) dated October 27, 2015 (which was approved by the shareholders vide postal ballot dated December 18, 2015 and the CDR Lenders), the Company has on February 26, 2016 transferred 75% of its shareholding in Transrail Lighting Limited to Bilav Software Private Limited. Pursuant to this transfer, Transrail Lighting Limited ceases to be a subsidiary of Gammon India Limited.
The above information is a part of company’s filings submitted to BSE.
