ABB India has received approval for scheme of arrangement amongst the Company, ABB Power Products and Systems India (a newly incorporated wholly owned subsidiary of the Company) and their respective Shareholders and Creditors, providing for the demerger of the Company's power grids business to ABB Power Products and Systems India. The board of director of the company has approved the same in the meeting held on March 5, 2019.
ABB India is a pioneering technology leader in electrification products, robotics and motion, industrial automation and power grids, serving customers in utilities, industry and transport & infrastructure globally.