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Rathi Steel & Power informs about outcome of board meeting

10 Jun 2016 Evaluate

Rathi Steel & Power has informed that the Board of Directors of the Company at its meeting held on June 09, 2016, has considered and approved the demerger / or hiving of both the Ghaziabad and Orissa Units of the Company on slump sale basis to unlock the value and to arrive at long term viability solutions. This is subject to requisite approval by all stakeholders including lenders and all concerned statutory authorities etc. Further, Board has also approved the resignation of Udit Rathi from the CEO of the Company with effect from May 17, 2016.

The above information is a part of company’s filings submitted to BSE.

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