Voltas has received an approval for the transfer of its domestic projects business relating to Mechanical Electrical and Plumbing (MEP) / Heating, Ventilation and Air-Conditioning (HVAC) and Water projects, Mining and Construction Equipment (M&CE) business and Textile Machinery Division (TMD) to its wholly owned subsidiary viz. Universal MEP Projects & Engineering Services (UMPESL) (formerly Rohini Industrial Electricals) by slump sale through a Business Transfer Agreement ('Proposed Transaction') to be executed between the company and UMPESL.
The Board of Directors of the company have at its meeting held on February 12, 2021 approved the same.
Voltas is among India’s leading air-conditioning, refrigeration and engineering services companies.
