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| with Nashik-based Datar Switchgear (DSL) under a scheme to be |
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| approved by the Board for Industrial and Financial Reconstruction |
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| (BIFR). This was announced in a release issued by L&T to the BSE |
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| today. |
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| "The acquisition is in line with L&T's plans to expand product range in the |
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| low voltage electrical business," the release added. |
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| DSL is engaged in the manufacture of electrical and electronic products. |
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| Before the merger, DSL will transfer its electronics business and other |
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| identified liabilities, including the award it has received under an arbitration |
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| with Maharashtra State Electricity Board and related litigation, to an |
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| identified company. |
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| "As part of the arrangement for merger, the company will assume debt of |
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| approximately Rs 24 crore. The company's equity share capital will not |
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| undergo any significant dilution post merger," the release added. |
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|
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